IPL scores big on brand value
In 2017, the value touched $3.8 billion despite allegations of match-fixing and corruption. The T20 league’s brand value was at a peak in 2010 with $4.1 billion
Allegations of match-fixing and corruption that have plagued the Indian Premier League (IPL) appear not to have affected its brand value this year.
The cash-rich league, owned by the Board of Control for Cricket in India (BCCI), recovered from a fall in brand value reported in 2016, to touch $3.8 billion in 2017, according to a report by UK-based valuation firm Brand Finance, shared exclusively with Business Standard.
IPL’s brand value in 2016 stood at $3.5 billion, a drop of 5.4 per cent over the previous year. This year, it grew nine per cent, the highest in seven years, David Haigh, chief executive officer of Brand Finance, said.
In 2010, when the league’s brand value had last peaked, the T20 tournament, held between April and May, was at $4.1 billion, a two-fold growth over the previous year.
Haigh attributed this year’s growth to the league’s attempts to put its troubled past behind. “There was a renewed stakeholder confidence in the management following the appointment of BCCI’s Committee of Administrators, besides a number of innovations in fan experience and pure cricketing excellence, which drove up interest and participation,” he said.
The tournament, which completed 10 years in 2017, was also high on entertainment and glamour, contributing to the overall experience, Haigh said. “Cricket enthusiasts who did not get tickets to see the games live could watch the competition in specially-designated fan parks in 36 cities. Family-friendly and free to attend for all, fan parks offer music, entertainment, and a range of merchandise stalls, bringing a stadium-like atmosphere to city centres on a scale larger than ever.”
The 10th edition, concluded on May 21 after six-and-a-half weeks of action, registered a cumulative reach of 386 million viewers in the first five weeks, a jump of 15.22 per cent over the year-ago period, according to the Broadcast Audience Research Council of India.
Last year, cumulative viewership stood at 361 million for the entire tournament, alluding to a possible good growth for 2017, experts said. Viewership for this year’s entire tournament is yet to be declared. Brand values of six of eight teams that participated in the tournament have also jumped, Haigh said, pointing to how franchises, too, have benefited from the overall momentum.
“With a brand value of $58.6 million and the fastest yearon-year growth of 24 per cent, Kolkata Knight Riders (KKR) topped the Brand Finance’s IPL team table second year in a row,” Haigh said.
“Despite missing out on the title this year, KKR continued to be a consistent qualifier for playoffs in the last couple of seasons. The team has also displayed strong leadership skills, bonding, and a clear approach to composition and winning tactics,” he added.
This year’s champions, Mumbai Indians, stood second with a brand value of $54.1 million, a growth of 17 per cent over 2016. Sunrisers Hyderabad came third with $46.5 million, a growth of 23 per cent over last year. It has traded places with Royal Challengers Bangalore, which slipped to the fourth position with a brand value of $44.4 million, a growth of 3.5 per cent only.
Delhi Daredevils ranked fifth with a brand value of $40.5 million, a year-on-year growth of 13 per cent, while Kings XI Punjab stood sixth with $36.2 million, a growth of 18 per cent.