The Indian Premier League, the most prestigious cricket tournament in the world, will soon begin after the Indian Women's T20 League came to a close with RCB's historic first title. The Indian Premier League is getting ready to deliver the excitement and thrills fans have come to expect in its 17th season. There may be other cricket leagues around the world, but none can compare to the Indian version in terms of scale, star power, sponsorship, etc. In a survey, brand valuation consultant Brand Finance stated that the entire brand value of the Indian Premier League (IPL) increased by an astounding 28% following the 2023 season, hitting $10.7 billion (about ₹89,232 crore). The value of India's most prestigious sporting event has increased by 433% since it began in 2008.

This year's IPL saw a significant increase in its Brand value, according to the survey. The reason for this is the large number of spectators in the stadiums, the increased consumption of IPL matches online and through other means, and the mega-media partnerships.

According to the consultant, the Mumbai Indians are worth $87 million, making them the most valuable franchise brand in the Indian Premier League.

The Chennai Super Kings, captained by Mahendra Singh Dhoni, come in at number two, with a brand worth of $81 million. Following CSK in terms of revenue is Kolkata Knight Riders (KKR) with $78.6 million and RCB with $69.8 million.

With a rise from eighth to fifth place from the previous year, Gujarat Titans is the clear winner in terms of brand value. There was a 38% increase in its brand value this year.

In today's world, several things influence the monetary worth of an IPL fan's preferred franchise. As a result, we'll go over a few important aspects that influence the brand value of IPL clubs, a subject that followers of IPL often think about.

Glamour World
Renowned Performers
Approaches to Advertising
Progress Made by the Group

Glamour World

Among Shah Rukh Khan's 37.9 million Twitter now X followers and 15.1 million Instagram followers is his iconic open-arms posture, which has made him known globally. As Shah Rukh Khan enthusiastically cheers on his Kolkata Knight Riders squad and as they spot Sourav Ganguly, the prince of Kolkata, the 70k-strong crowd at Eden Gardens in Kolkata bursts into cheers.

A large social media following and endorsement partnerships with different brands are opportunities for celebrity owners. More sponsors are eager to purchase shirt space from the club as a result of the team's rising popularity. As reported by a renowned media group, KKR emerged as the most lucrative IPL club in 2018, clocking in at 19.87%. The value of a brand doubles as its popularity and profitability rise.

Renowned Performers

Cricket fans associate CSK with MS Dhoni. MS Dhoni has been showered with an abundance of love and admiration by CSK fans. Since Dhoni became the public face of CSK, he has greatly increased the value of the team's brand.

Other IPL franchises rely heavily on the big players to boost their brand value. Fans have come to anticipate that their favorites will consistently wear the same uniform from season to season. Keeping star players is crucial for building a strong brand.

Being on the pitch excites fans, which in turn boosts the team's social media following. Brand recognition and, by extension, value, rise in tandem with increases in audience size, ticket sales, and merchandise sales.

Approaches to Advertising

Teams in the Indian Premier League use strategies including fan clubs, contests, player-fan interactions, team anthems, Twitter polls, and more to promote and expand their franchises. Over the years, marketers have come up with marketing strategies that aim to appeal to a certain demographic. The RCB Insider featuring Mr. Nags is one example of a marketing campaign. An archetypal Bengalurean, Mr. Nags, unexpectedly shows up at the RCB locker room or the filming location and spills the beans on delicious insider rumors.

Bhajji Blast with CSK is the latest in a series of innovative marketing campaigns that have captured the imagination of cricket fans. The show is a YouTube series created by Harbhajan Singh, a member of CSK. In it, he talks to other members of the band and learns interesting things, hears inspiring stories, and makes fun of themselves. Franchisees can increase their brand value through the use of these broadcasts by providing fans with an intimate peek into the everyday routines of players or teams.

Progress Made by the Group

The worth of a team's brand is proportional to how well it performs. The worth of a team's brand goes up when they continuously perform well. The great brand value of Real Madrid, Barcelona, and Manchester United is largely due to their continuous performance. Without a doubt, more fans, sponsors, and confidence among supporters may be attracted to cricket matches with regular pyrotechnics.

In addition to the team's terrible performance in almost every IPL season, several other things bring disrepute to Delhi Capitals. Teams like CSK, MI, and KKR, on the other hand, have been incredibly valuable due to their regularly impressive results in the IPL.

FAQs

Which IPL team was the most valuable franchise in 2023?

Mumbai Indians was worth $87 million, making them the most valuable franchise brand in the Indian Premier League 2023.

Which IPL team was the least valuable franchise in 2023?

Kings XI Punjab was worth $45.3 million, making them the least valuable franchise brand in IPL 2023.

Who is the captain of the Mumbai Indians team?

Hardik Pandya is the captain of Mumbai Indians team in IPL 2024.