IPL 2023 Breaks Records with Astounding INR 10,000 Crores in Ad Revenue

Chennai Super Kings were the IPL 2023 champions [Twitter]

The Indian Premier League (IPL) is currently the richest cricket league in the world. It has been at a constant rise since its inception and has been the biggest financial resource for the Board of Control for Cricket in India (BCCI) over the years.

The 2023 edition of the IPL also saw significant growth in every aspect. Particularly, it witnessed a huge rise in advertising revenue during the recently concluded edition which has come out in a recent report.

According to a recent report from market research and analysis firm Redseer Strategy Consultants, the tournament earned an enormous Rs 10,120 crore as advertising revenue from its 16th edition.

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The tournament was played over 52 days and across 12 venues in India. As per the report, 65 percent of the total advertising revenue was directly earned by the Board of Control for Cricket in India (BCCI), the ten franchises and the broadcasters. 

The rest of the 35 percent of the revenue was earned indirectly through traditional media and social media platforms.

The data says Jio Cinema, the streaming rights holder and TV broadcasters Star Sports together earned Rs 4700 crore as ad revenue. The franchises earned Rs 1450 crore while the BCCI got around Rs 430 crore.

Fantasy Sports Platforms Earn Rs 2800 Crore Gaming Revenue

Fantasy sports platforms witnessed significant growth in gross gaming revenue by 24 per cent from the previous edition (2250 crore). They earned a whopping 2800 crore during IPL 2023 with the top three platforms accumulating about 96 per cent of the market share and had an average revenue of Rs 458 per user for the season.

There has been a constant growth in the fantasy sports market at a compound annual growth rate (CAGR) of 30 per cent since IPL 2019. Additionally, during IPL 2023, the fantasy sports platforms saw a huge inflow of new players playing for the first time on these platforms.

The arrival of new users led to an 11 per cent rise in cash users and also ensured the reactivation of users during this IPL 2023. Meanwhile, non-IPL sporting events also earned 13 per cent of the revenue during IPL 2023.