The Indian Premier League (IPL) brand valuation until the 2015-16 year stood at $4.5 billion (approximately Rs 27,000 crore), the Board of Control for Cricket in India (BCCI) said following their Annual General Meeting (AGM) 2016, quoting the figures revealed by global valuation and corporate finance adviser firm Duff & Phelps, based in the United States of America.
Management consultancy and financial firm KPMG, had earlier announced last year that IPL 2015 contributed Rs 1,150 crore to India's GDP (Gross Domestic Product).
"The IPL's been a sure-shot hit on the field and off it too. On the field it has given the talented players a stage and a platform to exhibit their skills. It has brought the cultures of cricketing countries together and gives youngsters a unique opportunity to see the greatness in front of their eyes and learn from them," BCCI President Anurag Thakur told the Times of India.
"It has been the fastest-growing league in the world, and it has also changed the landscape of domestic sport in the country. After the IPL was launched in 2008, many other sports have started such leagues. Numbers prove that the IPL has set a benchmark, and at the BCCI, we're extremely proud of this."
The total viewership of the IPL this year, in which Sunrisers Hyderabad emerged the winners, stood at 102 crore, according to the Broadcast Audience Research Council of India. Also, with social media doing all the talking in recent years, the report stated that the internet viewership of the IPL over the years has touched the 100 million mark â€” 1.6 times more than that on TV.
The IPL 2016 was watched by 52 percent people on TV, making the league's cumulative TV reach touch the 361 million viewers mark. Also, 1,543,655 spectators went to watch the matches at the venues, while 4,40,000 people paid a visit to the 'fanparks,' an initiative taken by the BCCI to popularise the league in non-IPL cities.
"The IPL is growing by 20 percent every year. It is a broadcasters' delight, and a preferred platform for all the advertisers. Look at how Vivo (mobile company) has become a house-hold name after becoming the title sponsor of the league. Expect the digital rights of the event to soar exponentially in the coming years, which is why they've been sold for only five years," another BCCI official said.