The Indian Premier League (IPL) has amassed about Rs 2,500 crore in overall revenue in its recently concluded ninth season, growing at a double-digit pace over the year before,
The figure includes revenue that TV and digital channels made from advertisements, as well as teams from sponsorship, ticket sales and merchandising, and BCCI from on-ground sponsorship. The biggest chunk of revenue, obviously, came from TVs, as advertisers vied to grab ad spots when matches were telecast during the nearly two-monthlong tournament which, with its fastpaced short-format, has become very popular in tyhis cricket playing nation.
Official broadcaster Sony Pictures Networks India (SPN) made just under Rs 1,100 crore, while the eight IPL franchisees together earned Rs 200-230 crore from sponsors, ET had reported. The Board of Control for cricket in India generated Rs 220-250 crore from on-ground sponsorships, whereas Hotstar, the digital rights holder, got around Rs 40 crore, according to media buyers.
“India is a market where a lot of new brands are launching. These need to chase salience and eyeballs and IPL .. and IPL’s viewership has remained rock solid,” said Mallikarjun Das, chief executive at media buying agency Starcom Media-Vest Group. “So, I believe advertising will continue to remain the mainstay.” But it is not just the advertising revenue that IPL generates. This season, it made ticketing revenue of Rs 150-160 crore.
IPL is celebrated like a festival that unites India once a year and brings families, friends and colleagues together to enjoy the spirit of cricketainment, IPL creates a lot of job opportunities that are making a difference to the larger sports and events industry in India.