Brand value of Indian Premier League rises by approximately 19%
As per the IPL Brand Valuation Report 2018, the overall brand value of Indian Premier League (IPL) has increased from USD 5.3 billion in 2017 to USD 6.3 billion in 2018. Duff & Phelps compiled the annual report which states that the rise in the brand value has been supported by the fee of broadcasting rights, and has seen a heave at a Compounded Annual Growth Rate (CAGR) of 18.9%.
Among all the IPL franchises, the Mumbai Indians topped the charts for the third season in a row, with a brand value of USD 113 million. Kolkata Knight Riders secured the second position with a brand value of USD 104 million. Chennai Super Kings, one of two teams that made their return this past season, have a brand value of USD 98 million and sit in the third position. Virat Kohli's Royal Challengers Bangalore are tied with Chennai in third. Sunrisers Hyderabad, Delhi Daredevils, Kings XI Punjab and Rajasthan Royals are the teams that follow.
Social media, as usual, played a key role in raising the brand value of Indian Premier League 2018. The report stated that the 2018 season witnessed a jump of 855,400 mentions in the first week of the 2018 season from 642,900 in the first week of IPL 2017, which led to a rise of 1.3 million after two weeks.
Mr Varun Gupta, Managing Director of Duff & Phelps, stated in the press release, “Star India’s broadcasting rights deal was the actual game changer that put IPL on par with some of the biggest sporting leagues in the world (on a fee per match basis)”. He also added that in terms of brand value, the change in the consumption of content, the influx of OTT (Over The Top) and digital viewing platforms (e.g. Hotstar, YouTube), the increased support from advertisers and moreover the broadcasters and definitely the sponsors have given the IPL more significance.