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Some of you might don't know the background of the IPL. Here is the ultimate beginner's guide for you.
IPL: What is it?
The Indian Premier League (IPL) is a thriving business in India that has proven highly profitable for all its participants, even during challenging times. Despite facing hurdles such as general elections, terrorist threats, water scarcity, and match-fixing scandals, the IPL has managed to take place every year, almost as if these obstacles didn't exist. If we set cricket aside and focus on the business aspect of IPL, it's fascinating to understand what makes it so lucrative. The Indian Premier League (IPL) is a thriving business in India that has proven highly profitable for all its participants, even during challenging times. Despite facing hurdles such as general elections, terrorist threats, water scarcity, and match-fixing scandals, the IPL has managed to take place every year, almost as if these obstacles didn't exist. If we set cricket aside and focus on the business aspect of IPL, it's fascinating to understand what makes it so lucrative.
The Indian Premier League (IPL) is a professional Twenty20 cricket league in India, which was established in 2008. It was created by Lalit Modi, who had a vision to develop a cricket league in India that could be compared to football leagues abroad. The league was founded after the Indian Cricket League (ICL) was banned, which led to controversies surrounding the participating cricketers. Since its inception, the IPL has become one of the most popular cricket leagues in the world, with a massive brand value of INR 475 billion, according to a 2019 report by Duff & Phelps.
The IPL's impact on the Indian economy is not the only significant aspect of the league. It has also served as a crucial platform for young and talented Indian cricketers to showcase their skills and gain global exposure. A survey by KPMG Sports Advisory Group revealed that the league contributed a staggering INR 11.5 billion to the Indian GDP and had an overall impact of INR 26.5 billion on the economy in 2015 (equivalent to 1.2% of the country's GDP).
If you're a cricket fan, you'll be pleased to know that the IPL, which lasts around seven weeks, is scheduled to take place every year from March to May. It's an exciting event that you want to attend!
History of IPL
The Indian Premier League (IPL) is one of the most popular cricket tournaments in the world, and it is organized by the Board of Control for Cricket in India (BCCI). The BCCI was registered as a Society in 1928 under the Tamil Nadu Societies Registration Act, and it is comprised of State Cricket Associations that appoint representatives through elections. Currently, Arun Singh Dhumal is the chairman of the board.
The IPL's unique organizational structure is worth noting. The Board of Control for Cricket in India (BCCI), registered as a Society in 1928 under the Tamil Nadu Societies Registration Act, organizes the league. The BCCI appoints a governing council for the IPL, which currently consists of six members who manage the entire event. Unlike other sports leagues, the IPL does not have direct employees, teams, or committees overseeing its operations. Instead, the six-member council outsources various functions to different companies, including venue management, ticket sales, broadcasting, marketing, player auctions, team management, and logistics.
Despite this complex structure, the IPL has been a resounding success, attracting millions of viewers from around the world and providing a platform for the best cricketers to showcase their talent. The passion and excitement generated by the IPL have made it a cultural phenomenon in India and beyond, and it continues to be a significant force in the world of cricket.
Who benefits from IPL?
Many people might believe that they are the primary patrons of the Indian Premier League (IPL), but in reality, the sponsors are the league's actual clients. The audience's role is that of a rating agency, as their approval ratings help advertisers decide how to allocate their marketing budget. The IPL's enormous financial success can be attributed to its abundance of sponsorship money. Corporations that seek opportunities to promote themselves through IPL sponsorships, team sponsorships, broadcasting channels, or other avenues actively participate in the league and are the true customers who fuel the entire business of the IPL.
IPL 2024
The Indian Premier League is widely regarded as one of the most prestigious cricket leagues globally. The upcoming 2024 season is expected to be full of excitement and thrill. The tournament will commence on March 22 and conclude on May 26, 2024. This year's championship will feature ten teams competing against each other. The auction witnessed 72 players being sold, including 30 overseas players, and the amount spent during the auction was a whopping INR 230.45 crore.
As always, the IPL has attracted a great deal of interest from sponsors, with the manufacturing, finance, and entertainment sectors leading the way. The BCCI has awarded the title sponsorship rights for the Indian Premier League to TATA Group for a period of five years, with the company renewing its association for the first time in the history of the league; INR 2500 crore was the highest-ever sponsorship amount. Previously, TATA Group held the title sponsorship rights for the IPL in 2022 and 2023.
The Indian Premier League (IPL) has several associate partners, including My11Circle, Angel One, and RuPay. The official broadcaster of IPL is Star Sports, which Disney Star operates. Jio Cinema, operated by Viacom18, is the official digital streaming partner. The media rights for IPL 2023-27 have earned INR 48,390 crores (digital+TV); over the course of five years, a total of 410 matches will be played. It is estimated that BCCI will earn INR 118 crore per match from these media rights.
Disney Star retained the TV rights by paying INR 23,575 crore (INR 57.5 crore/game), while Viacom18 secured the digital rights with a winning bid of INR 23,578 crore. CEAT is the Official Strategic Timeout Partner for IPL, and PayTM is the Umpire Partner. Overall, the IPL promises to be a thrilling tournament, with the best cricket players worldwide competing for the championship.
Digital Streaming Partners
JioCinema, the popular digital streaming platform, has recently announced its partnership with 18 sponsors and 250 advertisers. The platform has secured several well-known brands as its sponsors, including Dream11, the popular fantasy sports platform co-presenting sponsor. Additionally, Tata Motors, PayZapp by HDFC Bank, SBI, Cred, AMFI, Upstox, Charged by Thumbs Up, Britannia, Pepsi, Parle products, Google Pixel, Haier, Jindal Steel, Vodafone, Dalmia Cements, Kamla Pasand, and Rapido have also joined as associate sponsors.
JioCinema's advertising platform has attracted diverse brands, including several FMCG brands such as Britannia, Parle Products, Mars chocolates, Tata Consumer Products, and Havmor Ice Cream. Moreover, automobile brands like Maruti, Apollo Tyres, Ashok Leyland, and JK Tyres have also come on board, showcasing the growing importance of digital advertising for the automotive industry.
JioCinema's advertising platform has received a positive response from the finance sector. Several brands, such as PayZapp by HDFC Bank, SBI, Cred, AMFI, ICICI Mutual Fund, and LIC, have secured ad slots on the platform. The platform's popularity among advertisers reflects its strong audience engagement and reach. Brands can reach a vast audience by using this option to promote their products and services.
Broadcast Streaming Partners
Disney Star, the official broadcaster of the Indian Premier League (IPL), has partnered with more than ten brands for sponsorship ahead of the new season. This season, the brands sponsoring the IPL include Dream11, Vimal, Asian Paints, Charged by Thums Up, Joy Personal Care, Dettol, and Amul.
Interestingly, many of these brands partnered with the channel in the previous season, such as Dream11, Asian Paints, and Charged by Thums Up. In addition, several new brands have joined the sponsorship lineup, including Cadbury Dairy Milk, Havells Lloyd, Hide & Seek, Vanessa, Rupay Credit, Parle Products, Harpic, HDFC Payzapp, and Groww.
It is worth noting that several brands that sponsored the IPL in the previous season have also continued their association this year. These brands include Airtel, Cadbury Dairy Milk, Mountain Dew, and Parle Biscuits.
The squad of IPL 2024
1.Chennai Super Kings
2. Delhi Capitals
3. Gujarat Titans
4. Kolkata Knight Riders
5. Lucknow Super Giants
6. Mumbai Indians
7. Punjab Kings
8. Rajasthan Royals
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