IPL a bigger hit, revenues surge
IPL) is on a remarkable growth streak, with the top 10 franchises seeing their combined revenue more than double to ₹6,797 crore in FY24 from ₹3,082 crore in the previous year, according to financial data from Tofler.
Experts attributed the surge to the league's soaring commercial appeal, powered by smart media partnerships and lucrative sponsorship deals. The primary catalyst for growth was the record ₹48,390 crore media rights deal signed in 2022 between the Board of Control for Cricket in India (BCCI) and Disney Star and Viacom18, who have since combined to form JioStar.
In addition to broadcasting revenue, the BCCI secured over ₹4,000 crore from multi-year sponsorship agreements with major brands, including Tata Group, My11Circle, Ceat, and Angel One.
According to a recent Brand Finance report, IPL's brand value has grown by 13% to reach $12 billion in 2024 compared to 2023, up from its $2 billion valuation in 2009. Notably, four franchises-Chennai Super Kings (CSK), Mumbai Indians (MI), Royal Challengers Bengaluru (RCB), and Kolkata Knight Riders (KKR)-have crossed the $100 million mark in brand value.
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