Last Updated: July 05, 2023, 07:51 AM IST
Chennai Super Kings defeated Gujarat Titans in the final. (AP Photo)
The report says BCCI, franchises and broadcasters earned 65 per cent of the total spend as direct revenue
The 16th season of the Indian Premier League saw the tournament pocketing a whopping Rs 10,120 crore in advertising revenue, a significant growth as per market research and analysis firm Redseer Strategy Consultants.
The report says streaming rights holder JioCinema and TV broadcasters Star Sports earned Rs 4700 crores from advertising while franchises earned Rs 1450 crore and BCCI Rs 430 crores.
65 per cent of the total advertising revenue was earned directly by the BCCI, franchises and broadcasters.
“BCCI, Franchise, and Broadcasters earned 65 per cent of the total spend as direct revenue. The remaining 35 per cent of indirect revenue was earned as ad revenue by social media platforms, traditional media, and other internet platforms,” the report said.
Meanwhile, fantasy sports platforms have earned Rs 2,800 crore during IPL 2023.
According to their analysis, fantasy sports gross gaming revenue grew by 24 per cent from Rs 2,250 crore in IPL 2022, and the market has grown at a compounded annual growth rate (CAGR) of 30 per cent since IPL season 2019.
“IPL 2023 witnessed revenue of Rs 2,800 crore with about 61 million users participating on Fantasy Gaming Platforms,” the report said.
Redseer said the top three platforms captured about 96 per cent of the market share during the season where Chennai Super Kings became the champions for a record equaling fifth time.
“Platforms had an Average Revenue Per User (ARPU) of about Rs 458 during IPL 2023,” the report said.
As per Redseer’s analysis, IPL 2023 had a strong user acquisition engine, with 35 per cent of new users playing for the first time on the platforms.
The influx of new users led to an 11 per cent increase in cash users during the season, with the average spend per match of Rs 127 per user.
“The excitement of IPL also trickled into non-IPL sporting events during the season, contributing to about 13 per cent of the revenue,” Redseer Partner Ujjwal Chaudhry said.
