IPL 2023: Big news for brand IPL before IPL 2023 auction, reached around $ 11 billion in 2022
IPL 2023: There is great news for the brand IPL before the IPL 2023 auction to be held in Kochi on Friday. In fact, according to a report, the value of the Indian Premier League touched around 11 billion dollars in 2022. Explain that, according to a report released by D&P advisory firm, IPL is now a ‘deer corn’. At the same time, a business is called Decacorn when its value is more than 10 billion dollars.
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The league was valued at $6.2 billion in 2020
The league was valued at $6.2 billion in 2020. According to the report titled ‘Beyond 22 Yards,’ the valuation of both the league and the teams has more than doubled. The reason is better than expected sales of a multi-billion dollar media rights deal and two new franchises.
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How have the valuations for IPL arrived?
The IPL media rights deal for the cycle between 2023 and 2027 was sealed at $6.2 billion. This was an increase of over 100% compared to the previous cycle.
Disney Star acquired the IPL TV rights for Rs 23,575 crore while Viacom18 acquired the digital rights for Rs 23,758 crore. This was the first time that the media rights of the IPL were split between two different rights holders.
Also, two new IPL teams ie Gujarat Titans and Lucknow Super Giants were sold at a combined price of $1. 6 billion in October last year, the amount was more than anyone could have imagined.
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The value of the two new IPL teams was almost 6-7 times more than what the BCCI sold last time.
Other factors for the increase in ratings include – an increase in the number of matches in the next cycle from 74 to 94.
Newly signed central sponsorship deals, higher ticket sales, and in-stadia revenue also contributed to the MIND BOGGLING valuation of IPL.
According to a report in ET, D&P India Advisory Services has derived this value from the Discounted Cash Flow (DCF) method for valuation.