IPL’s expanding valuation
The Indian Premier League (IPL) has seen its overall business value increase to USD 20.6 billion, marking an 11.4 per cent growth. The league’s stand-alone brand value also grew by 10.3 per cent, reaching USD 4.3 billion. Since 2023, the IPL has added more than USD 1.1 billion in brand value, according to a study by global investment bank Houlihan Lokey. The league’s value surge is partly attributed to ownership deals involving some of its major franchises.
The T20 competition’s value rose 10.3% over the past year, solidifying its position as one of the world’s most valuable sports brands. On a per-match basis, only the NFL ranks higher than the IPL globally. The league, which began in 2008, has become a significant revenue generator for the Board of Control for Cricket in India and was estimated to contribute over USD 11 billion annually to the Indian economy in 2020.
Franchise brand values and ownership changes
Royal Challengers Bengaluru (RCB), the champions for the past two seasons, maintained its status as the league’s most valuable franchise. Its brand value is estimated at USD 312 million. This represents a 16.0 per cent increase in brand value from USD 269.0 million in 2025.
The team was recently acquired by a consortium that includes the US asset management giant Blackstone in a deal valued at nearly USD 1.8 billion, which is noted as the most expensive franchise transaction in IPL history. Following RCB, Mumbai Indians held the second position with a brand value of USD 264 million, while Kolkata Knight Riders were third at USD 245 million. Despite recent seasons, five-time champions Chennai Super Kings were placed fourth with a brand value of USD 244 million.
Another significant ownership change involved the Rajasthan Royals, which changed hands in a deal valued at USD 1.65 billion. This transaction saw Indian steel tycoon Lakshmi Mittal and his family, along with SII vaccine billionaire Adar Poonawalla, taking control of the franchise.
Shifting viewing habits
The IPL has also experienced a shift in its viewership landscape, with a notable migration from traditional linear television to digital platforms. An EY-FICCI 2026 report indicates that IPL 2025 reached 1.18 billion viewers across both television and digital platforms. Of these, 652 million viewers watched online, accounting for more than half of the total.
Television accumulated 514 billion watch-minutes, highlighting the growing prominence of digital alongside linear television as a primary viewing platform for the league. The opening weekend alone garnered 515 million viewers across platforms, with a combined watch-time of 32.6 billion minutes, an increase of 26% from the previous season’s opening weekend. Specific matches also demonstrated strong digital viewership, with the March 28 season opener between RCB and SRH drawing 426 million views on JioHotstar alone. This was followed by RR vs. RCB with 410 million views and MI vs. RCB with 406 million views.
Connected TV (CTV) has emerged as a significant factor, showing a 26% growth in reach and 20% increase in consumption year-on-year. The total CTV reach achieved in the entire previous season was matched by a single game this year, Game 45.
Source: theguardian.com
