Chennai Super Kings clinched the IPL 2018 trophy. (Source: BCCI)
Indian Premier League has gained an increase in the overall brand value from US$ 5.3 billion in 2017 to US$ 6.3 billion in 2018, as per the findings of IPL Brand Valuation Report – 2018. The annual report compiled by Duff & Phelps, state that the rise in the value has been supported by the broadcasting rights fee, and has seen a surge at a compounded annual growth rate (CAGR) of 18.9 percent.
Among the franchises, the Mumbai Indians, with a brand value of US$ 113 million, topped the charts for the third season in a row, followed closely by Kolkata Knight Riders at the second place with a brand value of US$ 104 million. The returning Chennai Super Kings, who won the title in 2018, was valued at US$ 98 million at the third position, tied together with Virat Kohli-led Royal Challengers Bangalore. Sunrisers Hyderabad, Delhi Daredevils, Kings XI Punjab and Rajasthan Royals followed in the brand rankings.
“Star India’s broadcasting rights deal was a game changer that put IPL on par with some of the biggest sporting leagues in the world (on a fee per match basis),” Varun Gupta, Managing Director, Duff & Phelps was quoted as saying in the press release. “The change in content consumption, the influx of over-the-top (OTT) and digital viewing platforms and increased support from advertisers, broadcasters and sponsors have given the IPL greater significance in terms of brand value.”
The 2018 season, as per the report, set a world record of OTT viewership with 10.7 million concurrent viewers, beating the 2012 world record of over 8 million concurrent viewers, held by Youtube for Felix Baumgartner’s space jump.
The social media also played a key role in raising the brand value, the report added. It stated that the 2018 season saw a jump from 642,900 mentions in the first week of IPL 2017, to 855,400 in the first week of the 2018 season, which rose to 1.3 million after two weeks.
Chennai Super Kings defeated Sunrisers Hyderabad in IPL 2018 final to clinch their third trophy.
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