File image of the IPL trophy© BCCI/IPL
D & P Advisory, a provider of consulting, advisory, and valuation services, on Wednesday released Beyond 22 Yards 2024 - IPL's Legacy and WPL's Vision, an IPL & WPL Valuation Report. In its second season, WPL witnessed impressive turnout drawing significant attention and support from fans. In parallel, the IPL 2024 witnessed unprecedented run scoring, with almost all high score records shattered this season. Remarkably, this IPL saw history being made with over 500 runs being scored in a single match.
Some salient features in the report:
For the first time in the recent past, the IPL's business enterprise value dropped to US$9.9 billion from US$11.2 billion last year. This marks a decrease of approximately 11.7%.
The decline in value results from a reassessment of media rights. D & P Advisory's prior report had factored in certain assumptions on the media rights valuation when it gets renewed (post the current cycle), but recent developments in the Media & Entertainment industry and expected reduced competitors / bidders in the next IPL auction have led to a downward revision of the estimates.
WPL's business enterprise value increases to $160 million after the inaugural edition's value of $150 million, marking an increase of almost 8%.
This year again, Mumbai Indians, emerged as the most valued IPL franchise in 2024, followed by Chennai Super Kings.
According to the report, compared to the last edition, the IPL ecosystem value has fallen from INR 92,500 Cr to 82,700 Cr, marking a decrease of around 10.6%. In USD terms, this translates to a decline from $11.2 billion to $9.9 billion, representing a decrease of approximately 11.7%. This downturn comes despite the league's unyielding allure, which continues to attract audiences across television and digital platforms.
In their previous year's valuation report, they have already factored in the expected surge from the media rights renewal (post the current cycle). For the first time in 2022, the Board of Control for Cricket in India (BCCI) made the decision to bifurcate the media rights for TV and digital platforms for upcoming cycle of five years from 2023 season.
Looking forward, the potential dearth of vigorous competition could lead to a more conservative approach in the bidding for IPL media rights. Compared to the previous edition, the WPL ecosystem's value has increased from INR 1,250 Cr to 1,350 Cr, marking an 8.0% rise. In USD terms, this translates from $150 million to $160 million. The league has consistently been a thrilling blend of cricket, business, and entertainment, and this year was no different. It continued to captivate audiences across both television and digital platforms.