IPL games were started as an entertainment league and to provide the best hidden talent a platform to showcase their skills and abilities. In its 12 journey of Journey IPL has given world class players to the country like Shikhar Dhawan, KL Rahul, Kasoor Gumrah, Chahal, Kuldeep, and many more. It is because of the IPL that these players are able to take lead in their careers.
But with evey season passing by, the craze of IPL started to Inflate, so much so that even in some matches of CSK and MI their respective home grounds were full. There were a record mark attendance ie even more the World Cup. To this level IPL has been able to penetrate into the minds of the people. If cricket is considered to be a religion in India, a big credit goes to IPL.
BCCI ie the governing body of IPL and Indian Cricket Team doesn't even spend anything in the IPL. The whole model of IPL is a Zero cost for the BCCI. The players are auctioned by the celebrities and industrialists, who own the teams. Thus, paying for the IPL matches is a matter of their concern and BCCI need not to bother into this respect.
IPL has now turned truly into a money minting machines. As you see there is a huge crowd to MNCs available for sponsoring each player, each team and the whole IPL. Each team has its own title partner. Like Nokia for KKR, Daikin for DC and so on. These Title sponsors pay hugely to their teams and take note of all their expenditure.
Then we do have small sponsors like swiggy, zomato, Gatorade, as their food and beverage partners. Then there is Star group sponsoring the IPL. Reliance backed Jio nearly sponsoring every team. So the whole expenses of the IPL are incurred by these sponsors.
Apart from that, we have the Title sponsors for the IPL like VIVO and Maruti Suzuki who pay hugely to the BCCI as sponsors. Thus BCCI nearly incur anything from its part, rather it earns hugely . The craze of IPL is so high that the DReam 11 startup became the first fastest billion dollar startup.
Then, at the last the main source of revenue that is the match tickets. The tickets are highly overpriced during IPL and still people go and watch it. Sometimes you need to spend double or triple the cost of the ticket to buy in black. Therefore, IPL is now the biggest source of revenue for the BCCI and we may see the same craze even in the 50th edition of IPL as well.
But with evey season passing by, the craze of IPL started to Inflate, so much so that even in some matches of CSK and MI their respective home grounds were full. There were a record mark attendance ie even more the World Cup. To this level IPL has been able to penetrate into the minds of the people. If cricket is considered to be a religion in India, a big credit goes to IPL.
BCCI ie the governing body of IPL and Indian Cricket Team doesn't even spend anything in the IPL. The whole model of IPL is a Zero cost for the BCCI. The players are auctioned by the celebrities and industrialists, who own the teams. Thus, paying for the IPL matches is a matter of their concern and BCCI need not to bother into this respect.
IPL has now turned truly into a money minting machines. As you see there is a huge crowd to MNCs available for sponsoring each player, each team and the whole IPL. Each team has its own title partner. Like Nokia for KKR, Daikin for DC and so on. These Title sponsors pay hugely to their teams and take note of all their expenditure.
Then we do have small sponsors like swiggy, zomato, Gatorade, as their food and beverage partners. Then there is Star group sponsoring the IPL. Reliance backed Jio nearly sponsoring every team. So the whole expenses of the IPL are incurred by these sponsors.
Apart from that, we have the Title sponsors for the IPL like VIVO and Maruti Suzuki who pay hugely to the BCCI as sponsors. Thus BCCI nearly incur anything from its part, rather it earns hugely . The craze of IPL is so high that the DReam 11 startup became the first fastest billion dollar startup.
Then, at the last the main source of revenue that is the match tickets. The tickets are highly overpriced during IPL and still people go and watch it. Sometimes you need to spend double or triple the cost of the ticket to buy in black. Therefore, IPL is now the biggest source of revenue for the BCCI and we may see the same craze even in the 50th edition of IPL as well.
1
0
0
Entrepreneur | Posted on
The overall revenue model of the Indian Premier League is quite fascinating. And it's certainly something the budding entrepreneurs can learn a lot from.
(Courtesy: Inside Sport)
Think of it this way…
Put aside all the controversies around his name, Lalit Modi dreamt of a cricket league at a time when ICL (which many don't even remember) turned out to be a big fail. With help from BCCI, he brought together the world's biggest players, world's top brands and a collective group of fans who can't have enough of cricket.
(Courtesy: The Indian Express)Few can argue that IPL made cricket glamorous, also pulling so many big celebrities around the world.
What once started as an idea has now turned into a $6.3 billion.
Of course, per match, the spectators in the ground is one big source of revenue.
(Courtesy: The Indian Express)Then, the advertisement you see in breaks, those companies pay big to IPL to be featured.
Then, from MoM to Halftime -- everything is sponsored by different brands, which pay IPL.
Not to forget, each team has to pay a sum to the IPL's pocket.
(Courtesy: Hindustan Times)All these have contributed to making IPL games a big money minting machine that pack crores of rupees every match.
Of course, IPL gets a lot more money from many different sources. Every part of it is monetized.
(Courtesy: Free Press Journal)It’s like a circle. Fans pay to watch the match (on the ground, to their cable provider). And then that cycle completes when they are getting entertained.
Again, the whole Indian Premier League model is great to learn a thing or two about entrepreneurship… how to create a brand and maintain its USP. The same has worked so well even for Indian Super League.
1
0
0