FOR THE CONNOISSEURS of the game, the Indian Premier League (IPL) may have blurred the dividing line between cricket and entertainment, but no one else seems to be listening.
Consider this: In the 10-year period since 2014, IPL's value has trebled from $3.2 billion to $10.7 billion.
The 16-year-old property is second only to the American National Football League (NFL), which has an estimated brand value of $11.2 billion and is 88 years older.
"The brand value you see is the outcome of a host of things done right," says Vipin Gupta, managing director, BCG India. "First and foremost it's the absolute quality of cricket and the relative competitiveness among the teams in the tournament. Second, the IPL management has worked collaboratively with the broadcasters and streaming partners - be it Sony, Staror JioCinema - to ensure there is constant innovation to upgrade the viewer experience. Third-and this is often cited as the most important factor but is actually not the most important-bringing in glamour and celebrity participation in the right amount." In a perverse way, industry experts attribute the massive jump in viewership and brand value this season to the split in media rights between JioCinema and Disney Star. As Brand Finance indicates, the IPL's total brand value soared 28% in 2023 over the last season, to secure its place as a decacorn.
Diese Geschichte stammt aus der December 18, 2023-Ausgabe von Financial Express Mumbai.
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Diese Geschichte stammt aus der December 18, 2023-Ausgabe von Financial Express Mumbai.
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