Mumbai Indians, Chennai Super Kings and Delhi Capitals pick up brand value as KKR and Royal Challengers fall
Indian Premier League(IPL) brand valuation increased by 13.5% this year to ₹475 billion, according to global advisory firm Duff & Phelp.
- There was a 20% increase in the ad spending on IPL this year.
- Among the IPL franchises,
Mumbai Indians, Chennai Super Kings(CSK) and Kolkata Knight Riders(KKR) topped the charts in terms of valuation at ₹8.09 billion, ₹7.32 billion and ₹6.3 billion, respectively.
Last year however it rose even more at 18.87% growth to ₹418 billion (₹41,800 crore). A dip in sponsorships had led to the slower growth this year, the report says.
In spite of this, this year IPL got over 100 team sponsorships from government and the industry.
This is a good run even as the World Cup was held in the same year, which should have ideally eaten into the cricket pie. But, there was a 20% increase in the ad spending on IPL.
"The advertisers could have taken a conservative stance and saved their budgets for the World Cup, but the high viewership interest in IPL continued to attract them," Varun Gupta, Managing Director, Asia Pacific Leader for Valuation Services told Moneycontrol.
Among the IPL franchises, Mumbai Indians,
While Mumbai Indians and Chennai Super Kings recorded a growth of 8.5% and 13.1%, respectively, Kolkata Knight Riders (KKR) saw an 8% dip in the brand value.
On the other hand, the brand value of
“For growth trajectories to maintain their momentum, all teams need to focus on their on-field performance while continuing to broaden their footprint, forge relationships and generate revenue opportunities in growth markets,” Gupta added.
ICC Cricket World Cup 2019 viewership so far on Hotstar is far from the IPL peak
IPL final and Game of Thrones semi-final saw Hotstar break all records
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