IPL Revenue Decline: The average revenue of all teams of the Indian Premier League (IPL) in the 2023 financial year has declined by 23 percent compared to the 2019 financial year. That is, there has been a decline in revenue compared to pre-Covid-19.
IPL Revenue Decline
The average revenue of all teams of the Indian Premier League (IPL) in the 2023 financial year has declined by 23 percent compared to the 2019 financial year. That is, there has been a decline in revenue compared to pre-Covid-19. A report released on Thursday said that there is no scope for further fluctuations in the earnings of this famous cricket T20 tournament.
Market intelligence platform Private Circle said, ‘If we take inflation into account, this fall in revenue is very high. Even assuming an inflation rate of 10 percent over the past four years, the average decline in revenue for all teams in FY2023 compared to FY2019 was close to 47 percent.
According to the report, the decline in revenue could be attributed to a number of reasons such as changing consumer preferences or competition in entertainment options. If revenue continues to decline or remain stagnant, the format of the IPL may need to change, the private body said. Measures such as revenue sharing arrangements, cost controls or strategic partnerships can be taken by the Indian Premier League.
Kolkata Knight Riders had the highest revenue of Rs 437 crore in FY 2019, according to data from the report. It was followed by Delhi Capitals with an income of Rs 424 crore and Chennai Super Kings with an income of Rs 418 crore.
Revenue of IPL franchises witnesses sharp decline in FY 2023 | Reporthttps://t.co/I2gW1MPCXl#Revenue #ipl #ipl2024 #ipl2024updates #TATAIPL #tataipl2024 #iplindia #IPLT20 #iplteam #KKRvsMI #MIvsKKR pic.twitter.com/X3uTyjp1cz
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Delhi Capital’s highest revenue in FY 2023 was Rs 367 crore. Gujarat Titans are at the second position with Rs 360 crores and Mumbai Indians are at the third position with Rs 359 crores. Their revenue is down compared to the top three revenue teams in FY2019.
The average revenue of all teams was Rs 394.28 crore in FY 2019, which came down to Rs 307.5 crore in FY 2023. But the report said all teams saw an increase in sponsorship income.
In terms of sponsorship, Royal Challengers Bangalore (Rs. 83 crores) has earned the highest. It is followed by Chennai Super Kings (78 crores) and Delhi Capitals (72 crores).
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