Cricket is one of the most beautiful spots, the competition, and the energy is unreachable. Only the cricket name is enough to make any youth of India crazy because they don’t love cricket, they worship it. Yeah! It’s true. India has the highest number of cricket fans in the world, and they are crazy after these sports. Well, there are many ICC organized tournaments like One-day world cup T20 world cup, Champions Trophy, and many more. But the age is changed people are adopting fast forward games. That’s why IPL comes to the pitch.
IPL got started in India as a franchise-based T20 league in 2008. But throughout the whole journey, it makes a significant impact on the crowd and grows the number of fans. The fact is IPL is the highest revenue-generating cricket league in the world, that’s why the richest too. But ever thought how IPL is making so much money? How is IPL getting to getting more lavish every year? Let’s talk about the revenue-generating sources, that’s the only cause of IPL lavishness.
IPL got organized by the Indian cricket board which is known as BCCI. With the IPL, BCCI makes money, and this league gets richer. BCCI runs many financial projections, but only IPL shares 95% of the whole generated in a circle of time.
Highest Hike in BCCI Revenues In IPL Time
BCCI makes more than 2017 crores one in the last financial year, just from the IPL and 400 Crores more than the previous year. Then last year, in 2018 Star India bid of the IPL media rights, and got it for the 16,437.6 Crore rupees for five years. Also, they sold the title rights to the Vivo for 2199 crores. These all are the factors of BCCI and IPL revenue model.
After Star India purchased media rights, they started to stream IPL matches live in the Hot Star app. And after that, the viewership of this multi-million cricket league is started increasing rapidly. This factor also contributes to the revenue model of IPL. And it makes IPL more productive.
Each of the franchise got seven home matches to organize. And this one is another way to get some handy revenue for the team and IPL too. Every year, the ticket price is hiked by some % and add a decent net profit the IPL revenue. Except for this, there has been a huge increase in online cricket betting of IPL and thus is also one of the main reasons behind the growth of the league.
This one is another major factor of getting some high rates, for the promoting brands in IPL matches. Brands play high amounts to the team to promote them and to advertise them. Not only a little but the sponsorship amounts are quite hearty, but brands never hesitate to pay because they make fantastic customer base using the IPL hype.
These are some vital cause which makes IPL more productive every year. IPL is now contributing some nice amount of revenue in Indian revenue. It will increase with each IPL season for sure. That’s all for this story.