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The Indian Premier League (IPL) has reached a significant milestone by becoming a decacorn, a status that very few Indian startups have. According to a report by Brand Finance, IPL witnessed a 28% increase in its valuation from the previous $8.4 billion to the current $10.7 billion.
If we look from the beginning, when the IPL was valued at $2 billion in 2008, it represents a massive 433% growth.
What factors made IPL India's newest decacorn?
Several factors have contributed to this exceptional growth, including the return to full-capacity stadiums and increased viewer consumption across various devices.
Notably, a substantial $6.2 billion media rights deal, the expansion of the IPL's central revenue pool, the addition of two franchise teams, and the launch of the Women's Premier League (WPL) significantly boosted its valuation. The integration of Mukesh Ambani's JioCinema app, offering free access to viewers, also played a crucial role.
Mumbai Indians tops the list
Mumbai Indians lead as the most valuable IPL franchise with a valuation of $87 million, followed by Chennai Super Kings (CSK) at $81 million. Kolkata Knight Riders (KKR), Royal Challengers Bangalore (RCB), and Gujarat Titans (GT) also feature in the top five, with GT showing a significant 38% increase in brand value.
Furthermore, The report recognizes CSK as the "strongest brand" based on the Brand Strength Index, which considers various factors like marketing investment and fan loyalty.
IPL's global reach
IPL franchises are expanding their global presence, with each additional franchise ecosystem estimated to have a brand value of $1 billion.
According to multiple media reports, the global outreach extends IPL franchise brands' visibility throughout the year. IPL 2023 marks a significant step towards a global T20 business ecosystem, with franchise owners exploring new markets in the Middle East, USA, and Asia-Pacific, emphasizing the importance of governance and financial discipline.
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