Following the news that the men’s T20 World Cup reached a 167 million cumulative audience over four weeks, with India accumulating 112 billion minutes of viewership throughout the tournament;
Patrick Kinch, Sport Analyst at GlobalData, a leading analytics and data company, offers his view:
“These viewing figures will reassure the Board of Cricket Control India (BCCI) that it can secure a 100% increase in the value of its Indian Premier League (IPL) rights over the property’s next four-year cycle. Viewership figures from the men’s T20 World Cup show that the viewing demand for cricket’s shortest format is healthy, with 18% of viewers in India under the age of 15 - exactly the type of demographic to which cricket hopes to appeal.
“Star India, the chief carrier of IPL broadcast rights, clocked up 15.9 billion viewing minutes for the fixture between India and Pakistan - the most viewed T20 match in history. Star’s current contract with the BCCI for the IPL expires in 2022, and is reportedly worth $2.55 billion over five years. However, the latest viewership figures - combined with the IPL’s recent expansion to ten teams - will confirm expectations that these rights will double in value over the IPL’s next four-year cycle.
“Already the wave of continued cricket enthusiasm in India has resulted in a commercial uplift for the IPL, with several of its teams confirming sponsorship renewals. Chennai Super Kings have confirmed a new front of shirt sponsor in TVS Eurogrip for $4.48 million annually until 2024, while other the Royal Challengers Bangalore continue their $15 million a year kit supplier partnership with Puma.
“Newly established franchises in Ahmedabad and Lucknow were purchased by private equity firm CVC and Indian investment vehicle RPSG Ventures for a combined $1.7 billion in October 2021, indicating the investment opportunity that cricket represents, given media rights have largely remained stable during the pandemic.”
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