MUMBAI, 4th December 2024 – The Indian Premier League (IPL) continues its meteoric rise, posting a 13% surge in cumulative brand value, jumping from USD10.7 billion in 2023 to USD12 billion in 2024. This milestone cements IPL’s status as a global powerhouse in sports entertainment and is a testament to its unparalleled fan appeal and commercial success.
Reflecting the league's soaring popularity, four teams, namely Chennai Super Kings (CSK), Mumbai Indians (MI), Kolkata Knight Riders (KKR), and Royal Challengers Bangalore (RCB), have crossed the USD100 million brand value milestone for the first time.
CSK (brand value up 52% to USD122 million) emerged as the league's most valuable team. According to Brand Finance’s global market research on cricket and non-cricket viewers, this growth is driven largely by the enduring appeal and influence of legend MS Dhoni.
MI (brand value up 36% to USD119 million) maintained their position as the IPL’s second most valuable brand this year. Based on Brand Finance’s research, MI recorded high scores in the ‘familiarity’ and ‘appeal’ metrics. MI brand shows resilience in spite of relatively tepid performances in recent years.
RCB (brand value up 67% to USD117 million) ranks as the IPL’s third most valuable brand and the team’s success is due to its incredibly loyal and passionate fanbase as emphasised by Brand Finance’s data.
Recognised as the IPL's strongest brand in this year's rankings is CSK with a AAA brand strength rating and Brand Strength Index (BSI) score of 89.2 out of 100. KKR and MI come in as the second and third strongest brands in the IPL, both recording a Brand Strength Index (BSI) score of 77.8 out of 100.
Meanwhile, Sunrisers Hyderabad (SRH) (brand value up 76% to USD85 million) is recognised as the IPL’s fastest-growing brand. RCB and CSK also demonstrated impressive brand growth rates of 67% and 52% respectively.
Brand Finance’s IPL 2024 report reveals that the IPL, with strategic investments in marketing, player acquisitions, and broadcasting rights, has the tools to further its global ambitions, reaching fans in both established and emerging markets.
Ajimon Francis, Managing Director, Brand Finance India, commented:
"IPL 2024 witnessed a significant paradigm shift, with four franchise brands now surpassing the USD100 million mark in brand value and experiencing dramatic increases in central revenue shares. Digital viewership has overtaken traditional TV numbers, while domestic batters and bowlers are emerging as key performers. Does this mark a dramatic turn for the IPL, signalling a positive transformation for the league’s future?”
Royal Challengers Bangalore Women celebrated their first-ever trophy win in the 2024 Women’s Premier League (WPL), marking a milestone in the franchise's history. The victory boosted RCB’s ‘good reputation’ metrics, reinforced sponsor confidence with packed stadiums, and drove record-breaking TV and digital viewership. Star players like Smriti Mandhana, Jemimah Rodrigues, and Harmanpreet Kaur also emerged as influential voices for women’s cricket and for many consumer brands, further solidifying WPL 2024 as a rising powerhouse in the sports industry.
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance for more than 25 years, Brand Finance evaluates the strength of brands and quantifies their financial value to help organizations of all kinds make strategic decisions.
Headquartered in London, Brand Finance has offices in over 20 countries, offering services on all continents. Every year, Brand Finance conducts more than 5,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on over 5,000 brands, surveying more than 150,000 respondents across 38 countries and 31 industry sectors. Combining perceptual data from the Global Brand Equity Monitor with data from its valuation database enables Brand Finance to arm brand leaders with the data and analytics they need to enhance brand and business value.
Brand Finance is a regulated accountancy firm, leading the standardization of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.
