Mumbai, India: The Indian Premier League (IPL) has achieved a historic milestone in 2023, skyrocketing into decacorn status with a 28% increase in brand value, now exceeding a remarkable $10 billion. This significant growth in brand value solidifies the IPL as not just a cricketing powerhouse but a global sporting phenomenon.
Mumbai Indians Lead the Charge in Brand Value
Mumbai Indians (MI), with an impressive valuation of $87 million, stand at the pinnacle of the IPL franchise brands. This figure represents not just their success on the cricket field but also their extensive global brand presence, bolstered by their #OneFamily campaign. Following closely are the Chennai Super Kings (CSK), valued at $81 million, with their consistent performance and strong brand presence.
Gujarat Titans: The Rising Stars
Gujarat Titans (GT) have shown a remarkable rise in brand value, achieving a 38% growth and securing the 5th position in brand rankings. This leap from their 8th place position last year demonstrates their growing influence in the IPL ecosystem.
Lucknow Super Giants: The Fastest Growing Brand
The Lucknow Super Giants (LSG) have emerged as the fastest-growing IPL brand, showcasing a 48% increase in brand value. This growth, particularly impressive given their recent entry into the league, underscores the potential for new teams to make a significant impact.
Full Stadiums and Explosive Viewership: Key Growth Drivers
The return to full-capacity stadiums has played a crucial role in this growth, rekindling the full stadium experience for fans. Additionally, a surge in viewership across various platforms, including Jio Cinema’s free-to-view access in over 15 languages, has significantly expanded the league’s reach and appeal.
Chennai Super Kings: The Strongest Brand
CSK has been crowned as the strongest IPL brand, earning an AAA- rating and a high Brand Strength Index (BSI) score. Their brand strength is comparable to globally renowned brands like TikTok and Mercedes Benz, highlighting the immense brand equity of IPL teams.
Aramco’s Strategic Sponsorship Impact
Aramco’s sponsorship of the IPL, particularly the Orange and Purple Caps, has positively influenced its brand perception in India. This partnership has enhanced Aramco’s reputation as a trustworthy and innovative brand among cricket fans.
The Global T20 Business Ecosystem and IPL’s Role
The IPL 2023 season marks a significant shift towards a global T20 business ecosystem. With franchise owners looking to expand their brands to new markets in MEA, USA, and APAC, the IPL is at the forefront of this transformation. The league is increasingly seen as a platform fueling broader growth in the sports economy.
Conclusion
The IPL’s unprecedented brand value growth is a testament to its global appeal, robust governance, and innovative strategies. As the league continues to evolve, it stands as a beacon to other T20 leagues worldwide, illustrating the potential of sports franchises as major players in the global sports and entertainment industry.
