New Delhi: The Indian Premier League (IPL) emerged as the main contributor as the Board of Control for Cricket in India (BCCI) earned a record revenue of Rs 9,741.7 crore in FY 2023-24, according to a report. The biggest and richest cricket league in the world, unsurprisingly, was the cash cow for BCCI. contributing over 59 per cent of its revenue in FY24, as per a report by Rediffusion.
Since its inception in 2008, IPL has become the biggest revenue-generating league and provided opportunities to several youngsters in the country, a global platform to showcase their talent and skills. It also gives youngsters a unique opportunity to play with international superstars, whom they grew up watching on television.
The multi-million dollar brand could make its presence even bigger by branching outside India, according to experts.
“BCCI in 2007 discovered a golden goose – the IPL, which is now a 100 per cent part of the BCCI. The tournament is the best, and media rights are constantly going up. IPL also ensures that players from Ranji Trophy-level get a playing field. IPL will continue to churn out profitability as it grows further,” said Lloyd Mathias, business strategist and independent director.
Indian diaspora across the world contributing to IPL’s growth
Mathias also revealed that the reason behind the massive viewership of IPL is because of the Indian diaspora across the globe.
According to branding and ad company Rediffusion, the BCCI generated Rs 9,741.7 crore revenue in FY23–24 with IPL alone generating Rs 5,761 crore.
The Indian Cricket Board also earned Rs 361 crore from non-IPL media rights, according to the numbers, which came from broadcasting rights for international cricket matches and tournaments
BCCI’s diverse revenue streams also include the Women’s Premier League (WPL), which concluded its third season successfully in March.
Sandeep Goyal, Chief of Rediffusion, said that BCCI could generate even more revenue through commercialising traditional tournaments like Ranji Trophy, Duleep Trophy, or CK Nayudu Trophy to bulk up non-IPL revenues
“BCCI has immense potential to commercialise traditional formats like Ranji Trophy, Duleep Trophy, or CK Nayudu Trophy to shore up non-IPL revenues. Moreover, the board has close to ₹30,000 crore in reserves, which brings in about ₹1,000 crore a year in interest alone. These revenues aren’t just sustainable—they are poised to grow 10–12 per cent annually, thanks to expanding sponsorships, media deals, and matchday earnings,” said Goyal.
Meanwhile, Ajimon Francis, Managing Director at Brand Finance India, hailed the revenue performance of IPL and urged the International Cricket Council (ICC) to take a leaf out of BCCI’s business model book.