Indian Premier League's (IPL) media rights has the potential to cross $50 billion in next two decades, IPL chairman Arun Dhumal said on Thursday. IPL, which is the biggest cricket league, started in 2008 and will soon have its 17th season in 2024.
Speaking at the RCB Innovation Lab's Leaders Meet in Bengaluru, Dhumal said: "Looking at last 15 years, if I have to go by estimates going forward, we are expecting media rights to go somewhere close to $50 billion by around 2043."
IPL has become the second-richest sports league in the world after Star Sports and Viacom 18 bagged the media rights in 2023 for five years. Through the deal, BCCI fetched Rs 48,390 crore ($6.20 billion) through IPL media rights for a five-year period.
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, as per news reports.
"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,"Dhumaladded.
Last year, Viacom 18 had acquired the digital rights for the IPL for Rs 26,000 crore. Viacom18 successfully secured the digital rights in the Indian subcontinent, as well as the TV and digital rights across three global regions: Australia + New Zealand, the UK, and South Africa.
They also outbid Disney Star to the global media rights for the WPL, paying Rs 951 crore for the period 2023-27.
Talking more about the IPL in India, Dhumal said IPL is the most-watched and pooular 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. We are a very diverse country in terms of different states, cultures, and languages, but this is one platform that is rooted so well that you are able to showcase in India to the globe.”
He further said that cricket's inclusion in Olympics would further push revenue. "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 and light at the end of the tunnel.
Recently, it was decided that cricket will be part of the Los Angeles Olympics in 2028 and would be a medal event for the first time since 1900.
