Advertising from startups going through a funding winter might have taken a backseat, but the most-watched franchise cricket league is bringing in ad revenues higher than its previous editions
If the back-to-back thrillers are anything to go by, Indian Premier League (IPL) 2023 doesn’t seem to have lost any of its charm despite big-ticket absentees like Jasprit Bumrah, Rishabh Pant, Shreyas Iyer, Kane Williamson and Jonny Bairstow. Off the field too, the world’s most-watched franchise cricket league has reinforced its credentials as recession-proof, enabling its partners to fight off macroeconomic headwinds and rake in viewership and ad revenues higher than the previous editions.
The first hints of the premium that the IPL could command despite a tough economic climate, worsened by the Russia-Ukraine war, came last June, when the media rights for the 2023-2027 cycle were auctioned for a cumulative Rs48,390 crore, up from Rs16,348 crore in the previous five-year cycle. Star Sports retained the TV broadcast rights for Rs23,575 crore, while the digital rights went to Viacom18 (and its streaming platform JioCinema) for Rs20,500 crore.