Indian Premier League (IPL) chairman Arun Dhumal indicated that the league’s journey of success over the last 15 years should potentially drive its media rights value to $50 billion in the next two decades.
Dhumal spoke during the RCB Innovation Lab’s Leaders Meet India on November 30 in Bengaluru.
The media rights for the IPL have grown from Rs 6,000 crore to Rs 48,000 crore and the league is only second to the National Football League (NFL) across all sporting leagues in the world. Dhumal believes the widespread popularity and success of the league will act as a catalyst in its evolution over the next 10 years.
“If I have to see how it has gone over the last 15 years and if I have to go by estimates going forward, we are expecting media rights to go somewhere close to $50 billion by around 2043. Going forward, we need to keep innovating, keep doing better in terms of fan engagement, and keep making it better in terms of the quality of games. Now that cricket is becoming part of the Olympics and with the Women’s Premier League taking it to a different level for women’s cricket, I see a lot of hope. Because of the way it has been happening for the last 15 years, it is only going to get better,” he said.
RCB Innovation Lab’s Leaders Meet India, a two-day summit, brought together big names from across the sporting arena, offering a global perspective on the present and future of the sports industry and how India can become a powerhouse in the business of sports.
Dissecting the role of IPL in earning India a different reputation from the entire world, Arun said that IPL is the most-watched cricket league in the world. “We have fans across the world and when they come to watch, they get to see the diversity and culture of India. They will watch a match up North down South, East to West, because teams are spread all across the country. We are a very diverse country in terms of different states, different cultures, and different languages being spoken but this is one platform which is rooted so well that you are able to showcase in India to the globe.”
He also mentioned about the fan insights and engagement of IPL and its franchises. “We work as a team with all franchises, we are all partners. We have seen at the recently held World Cup games, that they (fans) were there for team India, but at the same time, they were rooting for RCB (Royal Challengers Bangalore) also, which is a great thing and we are very proud of that. Personally, I feel IPL is the best Make in India brand we can think of post-independence.”