The month of April does not really hold relevance to us unless it’s our birthday or we celebrate an anniversary or gripped with board exam fever. But, there are actually many of us who await the commencement of April with bated breath. This is because April brings in the cheer, screams, excitement, and allure of the Indian Premier League (IPL).
But, why are we speaking about IPL? How does it relate to us? We are working professionals who have no ‘fursat’ from our work and assignments, right? How can a game of cricket player over 3 hours deliver us from every stress? What makes it so profit earning that every year Crores of money is spent on mere mortals? It sure can hold its own when it comes to generating revenue and delivering high octane entertainment. Let’s understand what makes the IPL such a fantastic competition and a revenue-making machine.
Indian Premier League
The franchise based professional Twenty20 Cricket league was conceptualized in 2007 and held its first competitive tournament in 2008. Players are bought and sold during the IPL player auctions, and also during the newly introduced trading window. 18-25 is the player limit per team, with a total of 8 teams already participating in this year’s IPL. The 2015 season in itself saw the winning team’s prize money to be Rs. 15 Crore. That is surely going to be increased for this year’s winners.
Throwing another ‘big number’ at you, back in September 2017, STAR India won the broadcasting rights for IPLs 2018-2022 for a consolidated bid of Rs. 16347.5 Crores. Such is the marketing pull of IPL, that telecom providers are pulling no stops in attracting users to get on board their network. For example, BSNL has come out with an IPL pack that provides unlimited data for their prepaid mobile customers. This they believe will let users live stream the IPL matches easily over their smartphone.
6 Ways IPL Generates Revenue
Although the internal revenue structure is a well-guarded secret within IPL, we can understand more or less the various means through which the Indian Premier League must be generating revenue. It is also important to note that some percentage of the tournament revenue received from the sponsors is distributed equally among the franchise teams.
- Main Title Sponsor
Every year sees a bidding war between brands who want their name to appear before the Indian Premier League’s title itself. This year sees Vivo become the title sponsor and hence the 2018-2019 season (which is the 10th continuous IPL season overall) is called Vivo IPL 2018. This also means that Vivo will pay the league a sum of money as per their contract as the title sponsor.
- Media Rights
Broadcasting rights generate a huge stake in income for the participating franchisees and the league itself. For 2018, the media rights were divided into 7 categories namely Indian TV rights, Indian digital rights, US, Africa, Europe, Middle East and Rest of the world. We have already mentioned above, that STAR India has purchased the media/broadcasting rights (global) in Vivo IPL 2018. Their consolidated bid envelopes – India digital, Indian TV along with rest of the world (broadcast and digital). The sum that STAR paid as part of their consolidated bidding amount to BCCI is divided given to each team based on their respective TRP Ratings. STAR, in turn, will earn money through advertisements. So a 10-second ad that you see during a boundary, sixer, wicket fall or innings break, is each worth in lakhs.
- Digital Rights
STAR India, of course, garnered the digital rights for Vivo IPL 2018, but there were other major digital rights contenders such as Reliance Jio, Times Internet, Facebook, and Airtel. The rest of the world contenders were SuperSport, OSM (Gulf DTH), Yupp TV and Econet. The ones eligible but refrained from further participating in the bidding were ESPN Digital Media, Discovery, Twitter, and Amazon.
- Brand Sponsors
Franchises participate in tie-ups with various brands, thereby endorsing the respective brands’ logo on to their team kit or jerseys. The sponsors are either principal sponsors or associate sponsors. The brands also, in turn, generate publicity for themselves as popular cricketers are now wearing their brand logos as well, thereby promoting them. Add to that, celebrity team owners are also endorsing the brands they have roped in as sponsors. This increases the brand value for both the teams, brands involved and the league in general.
- Prize Money
IPL offers lucrative prize money to both the winners and the runners-up. In order to keep pulling in sponsors and setting up a sustainable brand value, a team needs to continue being successful on the pitch. Each year, IPL teams also make money through players being swapped through transfers.
- Stadium Tickets
Another source of revenue for IPL teams is the amount they generate via stadium tickets. Generally, IPL teams can control almost 80% of the ticketing revenue. Ticketing makes up close to 80% of the franchisees’ total revenue. The higher the team’s popularity, the higher the revenue garnered. Merchandise forms a smaller percentage of the team’s IPL revenue. This is generated by selling merchandised materials such as jerseys, souvenirs, bats, and caps.
4 Things You Need This IPL Season
Well, we saw how almost everyone associated with the Indian Premier League make some money or other. But, how can we celebrate this fantastic season of ‘leather dismantling wood’ and ‘timber being hit through leather’. You too can gear up for this IPL season by purchasing the below mentioned 4 products. Worried how you will pay for them? With an online personal loan of course!
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- Ultra HD LED TV
Wow! Without this, your IPL watching experience is zero. A big 55’ LED TV can turn your living room into a virtual stadium. All you will need is a box of popcorns, huddle your family and switch on each day at 8 pm.
The consumer durable personal loan from Loan Singh is availed for events such as the IPL. The scorching heat of the summer no doubt makes players tire and perspire. You too need a cool drink by your side when sipping on amazing cricketing juice over the next 2 months of the summer.
- Comfy Furniture
You don’t want to sit on old rickety furniture when you can enjoy the IPL on comfortable furniture. All you need is 5 minutes of your time and apply for a consumer durable personal loan on Loan Singh.
Although nothing beats the experience of watching cricket on the tele (especially a big one), there are chances you might be stuck out with some work and therefore don’t deserve to stay away from all the action. You can actually apply for a smartphone personal loan from Loan Singh as well. Samsung Galaxy S9 or Samsung S9+, take your pick!
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