IPL brand value rises to $5.3 billion

Mumbai: Buoyed by increased viewership and a relatively controversy-free tournament, the Indian Premier League (IPL) has seen a spike in its brand valuation to $5.3 billion after the 10th edition, according to global valuation and corporate finance advisor Duff & Phelps. The IPL’s overall value as a business has increased to $5.3 billion from $4.2 billion last year, representing a three-year CAGR of 13.9 per cent, Duff & Phelps said in a report. “This IPL season has garnered attention for all the right reasons — a relatively controversyfree tournament, increase in social media engagement, strategic and highly successful marketing initiatives, and compelling on-field performances — all of which affirmed IPL’s standing as the most valuable cricketing league in the world,” Duff & Phelps India Managing Director Varun Gupta said. It noted that the brand values of the individual teams have risen 34 per cent on average in 2017 compared to 2016. The Mukesh Ambani-owned Mumbai Indians sustained the top position with a brand value of $106 million, followed by Kolkata Knight Riders at $99 million and Royal Challengers Bangalore in third place at $88 million. Factors contributing to rise in brand values of individual franchisees include increasingly lucrative advertising, broadcasting and sponsorship deals, reduction in franchise fees beginning with the next season, increased viewership across India and fan engagement by the rise in social media activity. — PTI