News » Entertainment » 2016 IPL had an awesome gross revenue of more than $378 million

2016 IPL had an awesome gross revenue of more than $378 million

More advertising on TV and digital channels.

By Dileep Thekkethil

IPL

There was speculation that the Indian Premier League (IPL) was in decline in revenue with less viewership, but an Economic Times report estimate that this season’s IPL made a gross collection of Rs. 2,500 crores ($378.78 million).

According to the report, the highest revenue for this years’ IPL came from advertisements through TV and digital channels. The two-month long IPL series saw many companies competing for premium ad spots to get the maximum reach in the cricket-crazy nation.

The figures released by ET has the details about the revenue earned from TV and digital channels, from sponsorship, ticket sales and merchandising, and BCCI from on-ground sponsorship.

The report says that the official channel partners of IPL, Sony Pictures Network India made an overall revenue of Rs. 1,100 crores, the highest, and this is followed by the eight IPL franchises that earned Rs. 200-230 crore together.

Interestingly, BCCI generated Rs 220-250 from on-ground sponsorship and HotStar, the digital rights holder, got around Rs 40 crores.

“India is a market where a lot of new brands are launching. These need to chase salience and eyeballs and IPL’s viewership has remained rock solid,” said Mallikarjun Das, chief executive at media buying agency Starcom Media-Vest Group.

He also added, “So, I believe advertising will continue to remain the mainstay.”

The ticketing revenue of this season of IPL is estimated to be anywhere between Rs 150-160 crore.

“IPL is celebrated like a festival that unites India once a year and brings families, friends and colleagues together to enjoy the spirit of cricketainment,” said Vinit Karnik, business head at ESP Properties, a GroupM company.

“IPL has developed many unique skill sets and generated lot of job opportunities that are making a difference to the larger sports and events industry in India,” he said.


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