Love it or hate it but you can’t ignore it, that’s Indian Premier League (IPL), the domestic professional Twenty20 cricket competition inIndia. Since its inception in 2008, initiated by the Board of Control for Cricket in India (BCCI), IPL has come a long way and has emerged as one of the top sports brands in the world. IPL was the fifth largest brand in the world of sports in two years of operation, just below FIFA and higher than Wimbledon and F1. The IPL has actually become the number one cricketing property in the world.
All said and done, as the fifth edition of IPL is round the corner, its worth to check where IPL as a brand is heading. According to a valuation by Brand Finance, the brand value of IPL has fallen to $2.92 billion (Rs 16,163 crore) from a peak of $4.13 billion (Rs 19,675 crore) in 2010. A Business Standard report noted that even television ratings have fallen consistently from 4.81 in the first year (2008) to 3.27 in 2012 edition. Even ad revenues have slumped 30 percent this season from a year ago. So will the Sixth season of IPL be better and bigger? let’s wait and watch.