IPL, the Indian Premier League, has emerged as a game-changer in the world of cricket and business. With a staggering brand value of over 87,000 crores and the status of being the richest sporting event globally, IPL has become a lucrative investment opportunity for both Indian companies and global brands. Surpassing the prospects of traditional startups and ventures, IPL has transformed into a multi-billion dollar business, solidifying the Board of Control for Cricket in India (BCCI) as the world’s largest cricket board in terms of revenue. Let’s delve into the details and explore the astounding success of IPL.
Screen Sharing during IPL: A Game-Changing Feature
WhatsApp, the popular messaging platform, is reportedly rolling out a screen sharing feature for Android beta testers. This new addition allows users to share their screens during video calls, fostering enhanced collaboration and interaction. While older Android versions and large group calls may have limitations, this feature adds a new level of engagement to IPL viewing parties and discussions.
Massive Viewership and Advertising Revenue
IPL’s popularity is evident from the immense viewership numbers and advertising revenue it generates. Jio Cinema, the official streaming partner, witnessed over 2.5 crore new downloads during IPL, with more than 12 crore people watching the final online. Concurrent viewership reached a staggering 3.21 crores. Jio Cinema achieved a remarkable 1700 crore video viewership during the 16th season of IPL. Additionally, ad revenue soared to crores, contributing to the financial success of IPL.
Strategic Investments and Sponsorships
Leading companies, both Indian and International, have recognized the immense value of associating with IPL. US venture capital firm Tiger Global, known for its investments in prominent brands like Flipkart, Ola, and Zomato, invested 330 crores in the Rajasthan Royals team, valuing it at 5400 crores.
This showcases the belief that IPL offers higher profit potential than many startups. Major brands such as Tata, TVS Eurogrip, India Cements, Gulf Oil, Nippon Paint, and Jio have secured sponsorship deals with IPL teams, further boosting the financial prospects of the league.
IPL’s global reach is evident through its partnerships with International entities. The Saudi Tourism Authority (STA) recently entered into a partnership with IPL, marking the firm’s first sponsorship deal with a foreign Government. The National Payments Corporation of India partnered with IPL, promoting its flagship product RuPay as the official partner. These collaborations not only enhance IPL’s reputation but also contribute to its financial growth.
Streaming Dominance and Digital Partnerships
Viacom18’s acquisition of the exclusive digital rights for IPL matches for the 2023–27 cycle has transformed the streaming landscape. Matches were streamed for free on the JioCinema platform, surpassing Disney+ Hotstar and becoming the most-watched digital event globally. This shift highlights the increasing dominance of digital platforms in IPL’s success.
Diverse Partnerships and Umpire Sponsorships
IPL has forged partnerships with various sectors, including fintech, credit card payments, and tyre manufacturing companies such as PayTM, CRED, and SEAT have become official partners, providing exclusive offers, improving credit scores, and elevating the IPL experience. The return of the Saudi Arabian Oil Company as an official partner further strengthens IPL’s credibility and financial standing.
IPL: Transforming Cricket and Business
With its unprecedented success and record-breaking achievements, IPL has revolutionised the cricketing world and redefined the business landscape. Its massive brand value, viewership numbers, and strategic partnerships have elevated IPL to a multi-crore