IPL 2024: The 17th season of Indian Premier League 2024 will start from 22 March 2024. 10 teams will participate in this tournament and they will play matches against each other. Teams spend like water in IPL.
IPL 2024
The 17th season of Indian Premier League 2024 will start from 22 March 2024. 10 teams will participate in this tournament and they will play matches against each other. Teams spend like water in IPL. This earns BCCI a lot. This tournament, which lasts for two and a half months, incurs huge expenses.
How IPL Earn Money
Big businessmen and celebrities spend crores of rupees to buy teams in the Indian Premier League. The main purpose behind this is not to make cricket crazy for these people but to earn profit. IPL teams earn money in different ways throughout the tournament. Let’s know how the IPL teams earn in such a scenario.
IPL has multiple sources of income, not just one or two. It consists of two things. The first is the media rights and the second is the title sponsorship rights, from which the BCCI and the franchise earn revenue.
Media and Digital Rights
IPL and BCCI also have their pockets full of media and digital rights. Satellite TV channels buy the media rights for huge price. BCCI keeps half of the revenue from this and the other half is shared among all the teams.
In 2008, the first season itself, Sony bought the TV rights of the tournament for the next 10 years. Sony bought the TV rights for Rs 8,200 crore.
After this, Star India had the media rights from 2018 to 2023. This time it is near Mukesh Ambani’s Jio cinema. Mukesh Ambani is also expected to earn well from this.
DLF IPL, Vivo IPL, Tata IPL… these are all title sponsorships. That means sponsorship companies give their name in IPL by paying money. The company with the highest bid gets the title sponsorship. That means the company’s brand is promoted through cricket.
It is the second largest source of income for the IPL. Currently, Tata is the title sponsor of IPL. The Tata Group has bought the rights for two seasons for Rs 670 crore.
Professional advertising
After an over in a match, there is a short break and during that short break advertisements are shown on TV. According to reports, a 10-second ad slot in the middle of a match costs around Rs 15 lakh.
From chip companies to cold drinks and many other small things, sales are boosted by advertising during this period. 20 percent of BCCI’s total revenue comes from this in-game advertisement. Apart from this, franchises also earn good money from logos on t-shirts, caps, helmets, stumps and even the umpire’s dress.
Ultimately revenue comes from local revenue, which includes local sponsors and prize money. A ticket sale of one match generates an income of up to Rs 5 crore every year. If the match is played at a team’s home ground, the franchise receives 80 percent of that revenue.
Additionally, the more popular a team is locally, the more sponsors it gets locally, as well as revenue from championship prize money. Half of it goes to the players of the team and the other half to the company.
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