The stand-alone brand value of the Indian Premier League is now US$3.2 billion, up 80% from US$1.8 billion in 2022, says Houlihan Lokey, the global investment bank, in its IPL Brand Valuation Study 2023, its inaugural report into the business enterprise and brand values of IPL.

The business enterprise value of the IPL stands at US$15.4 billion, up 80% from US$8.5 billion in 2022, mainly due to the impact of the 2023–2027 media rights deal with Viacom18 and Disney Star.

The IPL’s media rights have grown at a phenomenal CAGR of 18% from 2008 to 2023, while the growth in absolute terms between the 2017 and 2023 cycles is 196%. When the IPL’s broadcasting fee is compared with other professional leagues in the world on a per-match basis, the IPL fares well above the likes of the National Basketball Association (NBA), the English Premier League (EPL) and the Bundesliga and is second only to the National Football League (NFL).

“Created on the American style of franchise-based systems of hiring players, the IPL has established itself as a hugely lucrative sports league, along similar lines as the NFL and the NBA,” commented Harsh Talikoti, Senior Vice President, Corporate Valuation Advisory Services at Houlihan Lokey.

“Besides the exponential growth in brand and business enterprise valuation of the IPL and the franchisees, it is interesting to note the prominent shift towards acceptance of digital platforms for sports consumption. Viacom18’s strategic push towards promoting digital viewership in India has undeniably reignited the much-needed excitement surrounding the IPL. This shift is evident in the remarkable viewership numbers witnessed during the current season on Viacom18’s OTT platform, JioCinema. However, Disney Star’s television viewing numbers were also very encouraging this year, achieving record levels,” added Talikoti.

With a brand value of US$212 million, growing year-on-year at 45.2%, Chennai Super Kings is ranked No. 1 in both brand ranking and business enterprise value ranking. Royal Challengers Bangalore ranks second in terms of brand value at US $195 million. Rajasthan Royals saw the highest incremental brand value rise in percentage terms year-on-year of 103%, the report says.