Brand value of IPL climbs back up as social media traffic surges
The Indian Premier League, the world’s top Twenty20 cricket competition, now has a brand value of $3.8 billion, up 9 per cent on last year, according to new analysis.
The figure was produced by UK-based valuation firm Brand Finance and comes at the end of a season in which the league enjoyed unprecedented social media engagement.
The IPL’s brand value was estimated at $3.5 billion in 2016, down from $3.7 billion a year earlier. The record figure, of $4.1 billion, was achieved back in 2010.
The 10th edition of the IPL concluded in exciting fashion last Sunday with the Mumbai Indians clinching their third title with a one-run victory over Rising Pune Supergiant in the final in Hyderabad.
Among the participating teams, the Indians are now the second most-powerful brand, with a valuation of $54.1 million, behind only the Kolkata Knight Riders, on $58.6 million, up 24 per cent on 2016, according to Brand Finance.
Sunrisers Hyderabad came in third, on $46.5 million, up 23 per cent, ahead of Royal Challengers Bangalore in fourth, on $44.4 million, up 4 per cent, and Delhi Daredevils in fifth, on $40.5 million.
The lowest ranked of the eight teams was Kings XI Punjab, with a brand value of $36.2 million, but it still achieved growth of 18 per cent.
After several years in which there were signs that the IPL was losing some of its lustre, there was something of a revival this year, with match attendances up 25 per cent.
The final television audience for IPL 10 has yet to be announced, but it is reported that the domestic viewership for the 2016 competition shown by Sony Pictures Networks was surpassed by the time of the 43rd match out of 60.
Facebook announced this week that a new high of 120 million people engaged in conversation on the IPL on the social media platform, recording 350 million interactions.
The Indians were the most talked-about team and RCB and India captain Virat Kohli (pictured) was the most talked-about player.
The Indians were also the most-mentioned team on Twitter, ahead of the Knight Riders and RCB, while the most-mentioned player emojis were those of the Supergiant’s MS Dhoni, Kohli and the Knight Riders’ captain Gautam Gambhir.
The Indians’ victory in the final was the most-tweeted moment of the season and there were a record 1.2 million tweets across the playoffs.
The IPL-related traffic will only have encouraged the Board of Control for Cricket in India as it proceeds with tenders for rights to the competition from 2018 onwards.
It was announced last weekend that bids for the title sponsorship rights would be invited from 31 May, event service rights from 12 June and domestic broadcasting rights from 17 July.