The Board of Control for Cricket in India has affirmed that the brand IPL is worth $4.5 billion or 27000 Crore in Indian Rupees, during the last years report submitted by the BCCI they have mentioned this figure than was being evaluated by valuation appraisal firm Duff & 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," states the report.
The media rights for the league has been outstated by the BCCI and this tender is inclusive of a 10 years contract with the BCCI, for this many media channels are after them to grab the opportunity. Sony and Star Sports the leading media channels are also in the run for the rights to be obtained.
"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 told TOI on Thursday (September 22).
"In a short span of nine years, the IPL has created a legacy of its own and changed the dynamics of cricket. It has been the catalyst to revive the culture of domestic sports in India, and many other sports have followed in its footsteps," Thakur added.
"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," said another BCCI official. Vivo, it is estimated, paid around INR 100 cr to buy the title sponsorship earlier this year.
According to a survey the IPL of 2016 was a commercial hit and almost 52% of the people were used to watch the League with full passion and energy.