So why is Indian Premier League so popular? Well, it’s all about the money – revenues, viewership, fixed salary cap, global appeal. So let’s discuss these questions in more detail. In this article, we’ll explore each of these areas. Then, we’ll look at the reasons for this success. Here are a few:
The Indian Premier League, or IPL, has a huge audience for television. According to the Broadcast Audience Research Council (BARC), the first eight games of the 2020 edition of the IPL attracted 268 million viewers – a decline of nearly 13% from the previous season. Last year’s inaugural season had seven matches that attracted a combined 268 million viewers. For the entire tournament, BARC tracked viewership by age and geography. IPL winners Chennai Super Kings overcame a few hurdles that they faced a season before and MS Dhoni’s leadership played a massive role in the campaign.
The Indian Premier League is a highly lucrative sport. Last year, the eight franchises raked in a combined Rs 450-500 crore in sponsorship revenue. While class A teams earned between 60 and 75 crores last year, the rest of the teams made between 40 and 50 crores. Revenues from the IPL are projected to grow by between 10 and 15 percent this year. The league has grown from its humble beginnings in 2007, when the inaugural season was played in Kolkata.
Fixed salary cap
The fixed salary cap for the Indian Premier League has been decided by the BCCI. The entire team can spend a maximum of Rs sixty crore for the 2014 season, with a ceiling of Rs forty-six crore for each new franchise. The existing eight teams can retain four players and can spend a maximum of Rs forty-six crore on their remaining players. The new franchises will have a choice to retain three players, or choose from the auction pool.
The Global appeal of the Indian Premier League is not merely limited to its domestic appeal. The competition has a global appeal and is an instrument in the globalisation of cricket. In the case of the IPL, two bidders were from outside India. The two bidders showed a keen interest in taking over the competition, demonstrating the global appeal of the IPL. However, some of the problems remain. For instance, the scheduling of the IPL 2020 season is questionable given the time of the pandemic. In the past, the ICC was banned from conducting the T20 world cup during this time period.
The BCCI has reportedly started mulling over a new media rights deal for IPL 2022. This could see many TV channels bid for the rights and expand the audience of the IPL. The last few years, only Star Sports aired the matches. But with multiple bidders for these rights, the BCCI might see more competition. It may also get some other major TV channels interested in snatching the rights. The idea of selling broadcast rights to multiple television stations came from the EPL.