This year, the Indian Premier League (IPL), an already very popular and entertaining event, beats all notes not only on the quality of the game but also on the money being withdrawn.
Bit statistical indication: the opening match, the audience has grown by 37% compared to the previous year, ad sales doubled, while the eight participating teams spent about $ 94 million for the purchase of 169 players (66 players for $ 14 million was purchased last year).
IPL is an annual 48-day cricket tournament involving the best players from around the world, CNBC said. For TV viewers, it is interesting that the tournament is held in Twenty20 format: every game lasts about 3 hours, while other formats of cricket assume the game lasts from one to five days.
The turning point for IPL is September 2017, when Star India gained the right to broadcast the game for 5 years, starting in 2018, for an unprecedented $ 2.55 billion. Thus, the Indian Premier League for Cricket has become one of the most expensive sporting events in the world. Soon the popularity of IPL reacted and up, paying $ 600 million for online broadcasting rights for 5 years. Thus, IPL already looks decent beside the tournament heavy sports like the English Premier League and the American National Basketball Association.IPL has a significant impact on the economy of India as a whole. Thanks to the workplace it is provided with coaches, players, service personnel, and specialists from additional industries - tourism, logistics, etc. The 2015 tournament boosted India's GDP by $ 182 million, and given recent solid investments in the league, it can be predicted that by 2018 this number will be much greater.
The investment from Star India in Indian cricket will be a great advantage for all parties. Over the years, many teams from IPL took risks, owed to buy the right players. But now everyone is guaranteed a profit - the uncertainty associated with commercial viability of IPL has ended.
And what about Star India itself? By giving an advantage to the Premier League team, will the company be able to make money? Star India has developed a marketing strategy to monetize every aspect of IPL, starting with the auction of players and ending with live broadcast of matches on 10 TV channels and on the Internet. It is expected this year the audience of the tournament will be about 700 million viewers, and advertising revenue will exceed $ 300 million.
However, the initial cost of advertising in the Premier League is huge, and not all advertisers can afford it. However, according to some sources, Star India sells 90% of its advertising space before IPL.
