IPL 2023: Mumbai Indians most valuable IPL franchise at $83 million, IPL's overall brand value almost doubled to $8.4 Billion

IPL 2023: The Indian Premier League continues to reach new heights with the latest reports suggesting a sharp increase in value. The league has grown exponentially since its inception in 2008. The addition of two new teams last year and the media rights auction have seen the brand value nearly double in just over a year. Mumbai Indians, IPL”s most successful side, are the most valuable at $ 83 million. Follow IPL 2023 auction LIVE Updates on Insidesport.IN

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IPL 2023: Mumbai Indians most valuable IPL franchise at $83 million, IPL’s overall brand value almost doubled to $8.4 Billion – Check details

As per Brand Finance’s analysis, reported by MoneyControl, IPL saw their stocks surge after an expanded season last year. With Gujarat Titans and Lucknow Super Giants joining, the brand value has gone up to $8.4 billion. The same report states that the IPL was valued only at $4.7 billion in 2021.

Among franchises, Mumbai Indians continue to be the most valuable brand. Valued at $83 million, they have recorded a 4 per cent increase despite a disappointing IPL 2021. Kolkata Knight Riders and Chennai Super Kings are the second and third-most valuable. The IPL 2021 finalists are valued at $76.8 million and $73.6 million, respectively. RCB had the biggest growth, with a 34% rise to $68 million.

Much of RCB’s growth is down to a good brand score the report suggests. Virat Kohli’s franchise has a Brand Strength Index (BSI) score of 70.6 out of 100. Mumbai Indians follow their rivals with a BSI score of 70.5. The score is based on a number of factors, including marketing investment, familiarity, loyalty, staff satisfaction, and corporate reputation.

IPL’s big boost in value

IPL’s value has risen almost twice from 2021 to 2022.
The league was valued at $4.7 billion in 2021 but is no up to $8.4 billion in 2022.
A major reason is an addition of two new teams and the IPL media rights auction.
The BCCI bagged a whopping Rs 48,390 crore from the media rights deal.
The sale has increased the central revenue pool by 2.5%

The boost is mainly due to the addition of two new teams and the recently held media rights auction. The BCCI sold the IPL TV and Digital packages for a whopping Rs 48,390 Crore with Star and Viacom18 walking away with the rights. The deal increases the central revenue pool for all franchises, almost tripling the margin.

In the 2018-2022 cycle, IPL’s digital value stood at Rs 4,040 crore, while TV rights were at Rs 11,410 crore. However, for the 2023-27 media rights cycle, digital rights shot up to Rs 20,500 crore, almost par with television, at Rs 23,575 crore. The latest cycle also has more matches, with 10 teams playing 16 18 games each. The previous cycle had 8 teams playing a maximum of 4 games.

Since its launch in 2009, the brand IPL has recorded 318 per cent growth in value, rising to over $8 billion this year.