The Indian Premier League (IPL) has emerged as a game-changer in both the world of cricket and business. Since its inception in 2008, the IPL has grown exponentially, becoming the fastest-growing and second-most valuable sports league globally, with each match valued at $16 million.

In the 2023 edition of the IPL, MS Dhoni-led Chennai Super Kings (CSK) secured their fifth title in a thrilling final against the Gujarat Titans. The final witnessed a record-breaking moment as Jio Cinema, the broadcasting platform for the league, achieved the highest number of concurrent views ever for a live-streamed event, with 3.2 crore viewers tuning in for the final match.

Renowned sports writer and commentator Ayaz Memon in an interview with CNBC-TV18 highlighted the recession-proof nature of cricket's popularity in India. Despite economic fluctuations, the passion for cricket remains unwavering. Memon also emphasised that the profitability of IPL matches is influenced by the overall robustness of the economy.

He added that each IPL franchise strives to enhance the viewing experience for fans. Recognizing that viewer comfort is crucial in maintaining attendance levels, franchise owners continuously invest in creating an engaging and enjoyable atmosphere for spectators. They achieve this by scouting talent from both major cities and rural areas, ensuring a diverse pool of players.

According to Memon, IPL's high level of competition leaves no room for complacency. Franchisees must consistently work hard to recruit talented players. Winning titles is not guaranteed, and franchises must remain vigilant to stay competitive in this challenging league.

Former Indian captain MS Dhoni has become an IPL legend. Having won five IPL titles and numerous international titles, Dhoni has cemented his status as a resident deity of the IPL, Memon said. After CSK's victory in the 2023 edition, Dhoni expressed his intention to return for the next season, continuing to captivate fans with his leadership and cricketing prowess.

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The IPL is a financial powerhouse, attracting substantial investments from media houses. These companies have committed around Rs 50,000 crore to stream the IPL for the next five years. Additionally, the Board of Control for Cricket in India (BCCI) and the franchisees have secured sponsorships worth over Rs 900 crore, further bolstering the league's financial muscle.

Broadcast rights form a significant revenue stream for the IPL, with a substantial portion of the central pool being dedicated to the BCCI and franchisees. Media companies pay exorbitant amounts to secure broadcasting rights, resulting in substantial income for both stakeholders. Furthermore, advertisements play a pivotal role, with each advertising spot during IPL matches costing between Rs 10 to 14 lakh.

K Shriniwas Rao, Group Editor of Sports at Network18, believes that the addition of two new teams injected fresh energy into the IPL. While acknowledging that the next four years will be a work in progress for the BCCI, he expects further growth and development in the league.

Rao expects that over the next five years, an estimated Rs 27,000 crore will be distributed among the stakeholders, ensuring substantial financial gains for each franchisee.

Watch video for entire discussion.

First Published:May 30, 2023 10:27 PM IST