(Photo Courtesy: Hindustan Times)
Indian Premier League has gained an increase in the overall brand value from US$ 5.3 billion in 2017 to US$ 6.3 billion in 2018, as per the findings of IPL Brand Valuation Report 2018.
Varun Gupta, Managing Director, Duff & Phelps said in the press release that this increase in the brand value was mainly due to the change in broadcasting rights.
“Star India’s broadcasting rights deal was a game changer that put IPL on par with some of the biggest sporting leagues in the world. The change in content consumption, the influx of over-the-top (OTT) and digital viewing platforms and increased support from advertisers, broadcasters and sponsors have given the IPL greater significance in terms of brand value,” said Gupta.
The 2018 season also set a world record viewership of 10.7 million concurrent viewers, beating the 2012 world record of over 8 million concurrent viewers, held by Youtube for Felix Baumgartner’s space jump.
Not only the broadcasting but also the social media played an equal role in increasing the brand value of the tournament.
The report stated that the 2018 season saw a jump from 642,900 mentions in the first week of IPL 2017, to 855,400 in the first week of the 2018 season, which rose to 1.3 million after two weeks.
Coming to the teams it was once again Mumbai Indians that stood on top in the overall brand value for the teams. Kolkata Knight Riders were placed second and the returning Chennai Super Kings were placed third.
This edition saw Rajasthan Royals and Chennai Super Kings return to the elusive tournament after serving 2 years of suspension.
Chennai went on to defeat Sunrisers Hyderabad in the finals to lift the title for the 3rd time.