The majority of the hard work has been completed by cricket, which accounted for an incredible 87% (Rs. 13,701 crore) of all industry spending on sports in India, with a healthy 13% increase from 2022 (Rs. 12,115 crore).
Cricket and developing sports have seen a six-fold increase in the business over the last ten years, according to Vinit Karnik, head of entertainment, esports, and sports at GroupM South Asia.
The fierce bidding battle between Viacom and Disney, which resulted in Viacom securing the digital and TV rights for the IPL for Rs. 23,758 crore and Rs. 23,575 crore for the 2023–27 cycle, respectively, was the driving force for the increase in cricket spending. Star, in stark contrast, having paid Rs. 16,347 crore for both the TV and internet rights for the years 2018–2022.
IPL’s Media Rights Valuation and Impact on India’s Sports Sponsorship Landscape
The Indian Premier League (IPL) is valued at Rs. 118.5 crore each match, second only to the National Football League (NFL) at Rs. 141 crore, thanks to the sale of media rights for various platforms.
When we look more closely at the specific statistics, we can see that sponsorship and endorsement, which increased by 24% each, drove the rise in sports spending in India even while media spending—which includes advertising on TV, digital, and print—went down.
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With a 79% revenue share and a 32% growth over 2022, cricket remained the most popular sport in terms of sponsorship spending, accounting for Rs. 7,345 crore in 2023. Ground sponsorship only increased by 6% between 2022 and 2023, despite continuing to hold a typical sway and accounting for over 40% of all sponsorship outlay earnings.
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