In a resounding testament to its ever-growing stature, the Indian Premier League (IPL) has achieved a remarkable feat, surging into the exclusive decacorn territory with a staggering 28% brand value growth, now surpassing the monumental $10 billion mark. The IPL has transformed from a mere cricket league into a global sports and business phenomenon, setting new benchmarks.
Notably, the IPL brand serves as a model for other T20 leagues, demonstrating the successful global expansion of its business model. Teams are actively seeking professionals to manage year-round player activities, organize tournaments, and oversee sponsor pools. The fundamental element in maintaining the IPL brand's strength is identified as robust governance. It's crucial for the central entity to stay resolute and on track, ensuring an unwavering commitment to continuous value creation.
“The IPL brand stands as a guiding light to all other T20 leagues, illustrating how the business model can be successfully scaled up on a global level. Teams are proactively recruiting professionals to handle year-round player management, organize tournaments, and manage sponsor pools. The key to upholding the IPL brand lies in robust governance. The mother ship must remain steadfast and on course, ensuring a continuous commitment to value creation," Hugo Hensley, who is the Head of Sports services at Brand Finance said.
Mumbai Indians become most valuable IPL brand with $87 million worth of valuation
As per the Brand Finance report, Mumbai Indians (MI) are leading this charge, standing tall as the most valuable IPL brand with an impressive valuation of $87 million. As MI continue to expand their global presence with initiatives like MI OneFamily, the Gujarat Titans (GT) are making waves, steadily rising through the ranks and securing the fifth position. The Titans' remarkable 38% growth in brand value positions them as the second-strongest IPL Franchise brand, a testament to their strategic initiatives and on-field prowess.
The IPL's triumphant return to full-capacity stadiums and a staggering increase in viewership have been pivotal in propelling the league's brand value growth. The immersive stadium experience, coupled with the explosion in viewership, has created an unparalleled engagement with a digital-savvy audience, consuming IPL content across various devices. The IPL has become more than a cricketing event; it's a digital extravaganza, capturing hearts and screens alike.
Chennai Super Kings are the strongest IPL brand, earning AAA- rating
While franchises fight for positions in the brand value rankings, Chennai Super Kings (CSK) emerge as the undisputed champions. With a AAA- rating and a Brand Strength Index (BSI) score of 81.8 out of 100, CSK not only claim the title of the strongest IPL brand but also secures the second most valuable franchise brand in 2023. Under the leadership of the iconic 'Thala' Dhoni, CSK orchestrates a fascinating fan experience, filling stadiums and sustaining vibrancy throughout the season.
Beyond these, a unique partnership with Aramco adds another layer to the IPL narrative, demonstrating the league as a platform for groundbreaking collaborations. Valued at £6.5 million (Rs 65 crore) annually, this pioneering partnership aims to boost Aramco's brand recognition in both Indian and KSA markets, leveraging the IPL's massive viewership that exceeds 400 million on TV and an additional 250 million on social media.
The partnership has already yielded positive results, with a 9% increase in awareness among non-cricket fans. This shows that being associated with the IPL is a wise decision. Aramco's forward-thinking approach aligns perfectly with the IPL's spirit, sending a powerful message of excellence.
A unique partnership with Aramco adds another layer to the IPL narrative. Aramco's strategic sponsorship of the Orange and Purple Caps, coupled with innovative marketing, has not only bolstered its brand presence within the Indian and KSA markets but has also showcased the IPL as a platform for groundbreaking collaborations. The IPL journey is all about bouncing back, making smart plans, and sticking to the goal of making things better. It's about going beyond limits, breaking the usual rules, and changing how sports and business work together.
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