BCCI's IPL 2023 season surplus doubles to ₹5,120 cr
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The Board of Control for Cricket in India (BCCI) earned a revenue of ₹11,769 crore from the Indian Premier League (IPL) 2023, almost double as compared to ₹6,404.25 crore in 2022, up 83.4% year-on-year. This included media rights income worth ₹8,744 crore, franchisee consideration worth ₹2,117 crore, and sponsorship income worth ₹847 crore.
The world's richest cricket body earned ₹5,120 crore as profit or surplus in its 2023 IPL season, up 116% from ₹2,367 crore earned in 2022. The organisation's expenditure also surged 66% to ₹6,558.92 crore during the 2023 IPL season, BCCI's annual report shows.
The value of the IPL as a business, meanwhile, surged to $16.4 billion (₹1,34,858 cr) in the year 2024, up by 6.5% compared to the previous year, according to a report by Houlihan Lokey, a U.S.-based global investment bank. The report launched in June 2024 said the IPL’s brand value -- the monetary worth of this intangible asset, including trade name and trademark -- had increased by 6.3% to $3.4 billion year-over-year.
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The brand value is the monetary worth of this intangible asset (which would include trade name and trademark) and is always a subset of the overall value of a business. With such high growth, the IPL has achieved new heights, joining the league of mega sporting events like the Olympics, the FIFA World Cup, and the Cricket World Cup. "Tata Group has secured the title sponsorship for a further five-year period from 2024 to 2028 for around $300 million (₹2,500 crore), paying 50% more than the previous deal of ₹335 crore per season. This significant investment, coupled with last year’s massive media rights auction, underscores the IPL’s status as a pivotal platform for esteemed brands seeking to enhance their value," said the report.
Additionally, the IPL 2024 coverage on Mukesh Ambani-led JioCinema also saw the inaugural day attracting over 113 million viewers, a 51% surge compared to the previous season’s opening day. The opening day saw 660 crore minutes of viewership, and the platform experienced a substantial 70% increase in watch time during the initial week of the tournament, the report says.
As per BARC data, Disney Star achieved an impressive cumulative reach of 44.8 crore viewers during the first 22 days (comprising 26 matches) of IPL 2024, amassing a total watch time of 18,800 crore minutes on television. The report ranked Chennai Super Kings (CSK) as the most-valued franchise, which is the most consistent team in the league. Royal Challengers Bengaluru (RCB) was ranked second in brand and business value and boasts a brand worth $227 million.
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