IPL 2023 earned 10,120 crore from advertisements - Reports

The IPL media rights from 2023 to 2027 were sold for a whopping 48,390 crores last year.

The Indian Premier League started its first season in 2008. But now it has become one of the biggest sports leagues in the world. In cricket, there is no competition that comes close to the IPL, and the media rights sold in the IPL 2023 pushed the IPL to be one of the most expensive leagues of all time. That is one of the reasons that many financial experts have predicted that the BCCI earned a whopping amount in the recently concluded season.

The Indian board sold the media rights for a staggering amount of INR 48,390 crores, which made the IPL league the second biggest sports league in the world in terms of media rights. This was also the first time the BCCI sold digital and TV rights separately, and it looked like that move had rewarded them to a huge extent.

IPL 2023 earned 10,120 Crore from Advertising: Report

Now, some media reports confirm that the Indian Board has gathered INR 10,120 crore just from the advertisement during the Indian Premier League 2023. According to a report submitted by market research and analysis firm Redseer Strategy Consultants, suggest that the streaming rights holder JioCinema and TV broadcaster Star Sports earned a value of INR 4700 crore from advertisements. On the other hand, the BCCI earned INR 430 crore, and the franchises earned INR 1450 crore.

It means 65 percent of the total revenue from the advertisements was distributed between the broadcasters, BCCI, and franchises. The report said, "BCCI, Franchise, and Broadcasters earned 65 per cent of the total spend as direct revenue. The remaining 35 per cent of indirect revenue was earned as ad revenue by social media platforms, traditional media, and other internet platforms."

Furthermore, the fantasy sports platforms have also earned a wholesome amount of INR 2800 crore during the 16th edition. According to the report, the revenue of such fantasy platforms increased by 24 percent (INR 2250 crore in IPL 2022), which is a 30 percent growth since IPL 2019. The report also said that 96 percent of the market share was earned by the top three fantasy platforms and confirmed that 11 percent of new users joined these fantasy platforms during IPL 2023. Redseer Partner Ujjwal Chaudhry said, "The excitement of IPL also trickled into non-IPL sporting events during the season, contributing to about 13 per cent of the revenue."