The Board of Control for Cricket in India (BCCI) has revealed that brand Indian Premier League (IPL) is worth $ 4.5 billion, or INR 27,000 crore. The board, in its annual report for the year 2015-16, has mentioned that this huge figure for the cash-rich T20 tournament, was calculated by valuation appraisal firm Duff and Phelps. “According to the Broadcast Audience Research Council of India, the total TV viewership of IPL 2016 calculated by impressions stood at 102 crores. A report by management consultancy firm KPMG puts the total impact of IPL 2015 on the Indian economy at Rs 1,150 crore, more than 0.6 % of the country’s GDP,” says the report.
The Indian board has only recently floated a tender for the IPL’s global media rights (TV and digital), for a period of 10 years, with digital rights available for half of that period. The competition for these rights might see leading sports broadcasters Sony Pictures Network India (SPNI) and Star Sports spend more than $ 4 billion to buy them. READ: Afghanistan cricketers to play in IPL?
“The IPL’s been a sure-shot hit on the field and off it too. On the field it has given the talented players a stage and a platform to exhibit their skills. It has brought the cultures of cricketing countries together and gives youngsters a unique opportunity to see the greatness in front of their eyes and learn from them. It has been the fastest-growing league in the world, and it has also changed the landscape of domestic sport in the country. After the IPL was launched in 2008, many other sports have started such leagues. Numbers prove that the IPL has set a benchmark, and at the BCCI, we’re extremely proud of this,” BCCI President Anurag Thakur said, as quoted by TOI. READ: BCCI announce open tender process for allocating IPL’s global broadcasting rights
Another BCCI official said, “The IPL is growing by 20% every year. It is a broadcasters’ delight, and a preferred platform for all the advertisers. Look at how Vivo (mobile company) has become a house-hold name after becoming the title sponsor of the league. Expect the digital rights of the event to soar exponentially in the coming years, which is why they’ve been sold for only five years.” Vivo, according to estimates, is expected to have paid around 100 crore to buy the title sponsorship this year.
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