Recently, at the RCB Innovation Lab’s Leaders Meet in Bengaluru, Arun Dhumal, Chairman of the Indian Premier League (IPL), shared an exciting vision for the future of IPL’s media rights. Dhumal is confident that the media rights value of the world’s largest cricket league could surpass an astonishing $50 billion by 2043.
IPL’s Current Media Rights Status
The I.P.L has solidified its spot as the second-richest sports league globally, securing media rights from Star Sports and Viacom 18 for an impressive Rs 48,390 crore ($6.20 billion) over five years. This places the I.P.L ahead of renowned leagues like the English Premier League (EPL) and Major League Baseball (MLB) in terms of media rights value per match.
Insights from Arun Dhumal
In his speech, Arun Dhumal stressed the importance of continuous innovation and increased fan engagement to drive the I.P.L towards this financial milestone. Reflecting on the league’s growth over the past 15 years, he mentioned, “Looking at the journey over the last 15 years and estimating the future, we expect media rights to approach $50 billion by around 2043.”
Comparative Analysis of Media Rights Value per Match
- National Football League (NFL): $36 million
- Indian Premier League: $13.82 million
- English Premier League (EPL): $11 million
- Major League Baseball (MLB): $9.57 million
- National Basketball Association (NBA): $2.12 million
Fan Engagement and IPL’s Reputation
Dhumal credits the I.P.L’s strong reputation to the enthusiastic engagement of franchisee fans. He highlighted the unique phenomenon during World Cup games where fans supported both Team India and their respective I.P.L franchises. According to Dhumal, this dual loyalty underscores the IPL’s status as the best “Make in India” brand post-independence.
IP L’s Future: Olympics Inclusion and Women’s Premier League
In a forward-looking statement, Arun Dhumal expressed optimism about cricket’s upcoming inclusion in the Olympics, foreseeing a significant boost for the sport. He specifically mentioned the Women’s Premier League, anticipating that it would elevate women’s cricket to new heights. Cricket’s inclusion in the 2028 Los Angeles Olympics marks a historic moment, with the sport returning as a medal event after 128 years.
Conclusion
As the I.P.L continues its remarkable ascent, Arun Dhumal’s projections highlight the league’s potential to reshape the financial landscape of sports. With a commitment to innovation, fan engagement, and the global expansion of cricket, the I.P.L’s journey towards a $50 billion media rights value by 2043 promises to be a captivating saga.
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FAQs
Q. What is the current value of IPL’s media rights?
Ans:- The IPL secured media rights for five years, totalling an impressive Rs 48,390 crore ($6.20 billion) after Star Sports and Viacom 18 secured the rights in 2023.
Q. How does IPL’s media rights value compare globally?
Ans:- The IPL ranks second globally in terms of media rights value per match, surpassed only by the National Football League (NFL). The comparative analysis places IPL ahead of leagues like the English Premier League (EPL) and Major League Baseball (MLB).
Q. Why does Arun Dhumal consider IPL the best “Make in India” brand post-independence?
Ans:- Arun Dhumal attributes this distinction to the passionate engagement of franchisee fans, citing instances where fans supported both Team India and their respective IPL franchises during World Cup games. This dual loyalty contributes to the IPL’s reputation as a premier “Make in India” brand.