The Indian Premier League (IPL), a T20 cricket league of the Board of Control for Cricket in India (BCCI) is considered as the largest media property in India and the most popular cricket tournament in the world. Its growing success and popularity made it one of the cash-rich leagues in the world and it continues to grow, commencing its 13th season on March 29.
In a survey made by Brand Finance, a leading independent brand valuation consultancy, IPL stands at an all-time high of $5.7 billion. The 2019 edition T20 league ran up to 330 billion minutes of broadcasting time where it garners a huge amount of as many as 300 million viewers log into the streaming services during the period of 44 days. The increase continues as the tournament gets close to its new season.
“The 2019 tournament ran up over 330 billion minutes of broadcasting time and logged 300 million viewers into the streaming service over a span of 44 days. The IPL continues to exceed expectations for its players, franchisees, team sponsors, and give a boost to the Indian economy,’’ Savio D’ Souza, Director of Brand Finance explained.
However, the two-month league remains only a small chunk of global production as football’s English Premier League and La Liga of Spain are still reigning in overall valuation. ‘‘Both the Premiership and La Liga have benefitted from a long heritage and reputation forged over the years, while the IPL will just be stepping into its 13th year in 2020,’’ the Brand Finance study stated.
The brand values of each of the eight franchises in the IPL were also revealed by the same report. Thus, here is a quick rundown at all the eight franchises and their brand value, according to Brand Finance:
- Kings XI Punjab (KXIP) – $41.7 million
Despite failing to advance in the finals for 12 seasons now and considered as the most underperforming team in the league, they have seen an increase in their brand value which has risen by 4%.
- Rajasthan Royals (RR) – $43.4
The RR won the inaugural edition of IPL, but they struggle to lift another trophy. They were valued at $43.4 million which is just 1.6% more than the previous year.
- Royal Challengers Bangalore (RCB) – $50.8 million
Surprisingly, RCB ranked on the sixth as they are a popular team with the biggest fan following among the franchises. Despite an increase in their brand value by 3.2% their poor performances have led to the slipped them to their ranking in brand value.
- Delhi Capitals (DC) – $54.2 million
Formerly Daredevils, DC have not reached higher that sixth spot for six straight years now despite of quality players. However, a change of name seems effective as they witness a remarkable rise in brand value by 24.5%.
- Sunrisers Hyderabad (SRH) – $59.6 million
The SRH are underdog of the league, making it to the playoffs in 4 straight editions and said to be the most underrated among the eight franchises. Their brand value increased by 10.4% from last year’s fourth placed finish.
- Mumbai Indians (MI) – $65.7 million
Despite being the best time in the history of IPL, having won 4 titles and currently being the reigning champions, their brand value only sees 24.1% increase in 2019 but remain third in the rank.
- Kolkata Knight Riders (KKR) – $66.5 million
The Red Chillies co-owned, KKR lifted trophies in 2012 and 2014 and considered as one of the most popular franchises off the field with a brand increased 7.7% in 2019.
- Chennai Super Kings (CSK) – $75.3 million
Ranking first is the three-time IPL champions, CSK with a brand value that hiked by 16.4% in 2019. The popularity of the former Indian captain Mahendra Singh Dhoni propelled the franchise to its top ranking in brand value.
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