The Rise of the Indian Premier League
By
Will Brown
Contributor Updated: 12 December 2024
Will Brown Contributor
William Brown is a Content Writer with strong expertise in US and global gambling industry trends. Having covered the local sports betting market since the repeal of PASPA in 2018, William approaches his gambling guides with passion and diligence. He is a keen player of online slots, blackjack, and a regular sports bettor.
The Story of the Indian Premier League
Since it was launched in 2008, the Indian Premier League (IPL) has grown from being a domestic Twenty20 cricket league to the most valuable cricket organization in the world. By appealing to its local audiences with fast-paced, action-packed play and showcasing India’s immense homegrown talent, the league now attracts hundreds of millions of viewers around the world. In this guide, we’ve tracked the meteoric rise of the IPL from its humble beginnings to its status as a cultural behemoth.
Intro to the Indian Premier League
Before we get too far into the history of the Indian Premier League, we have assessed its current standing by looking at the IPL revenues today. This will give some context about its huge success before we dive into its conception and evolution over the past 15 years.
We’ve then looked at the league’s impact at home and around the world, and have discussed why the IPL has become so popular. To round out this article, we’ve provided insights and predictions into the future of the league based on confirmed plans.
- The IPL’s Revenues
- Birth of the IPL
- The IPL’s Evolution
- The IPL’s Global Impact
- The Future of the IPL
The IPL Revenues Today
The Indian Premier League has experienced unprecedented growth for a cricket league since it was launched. In 2009, the IPL earned around $200 million per year. By 2015, this had doubled to $400 million per year. As of 2023, the IPL generates revenues of around $1.34 billion annually.
There are several reasons why the IPL has been so financially successful. One of the biggest boosts has been its media rights deals. In 2017, the league secured a $2.55 billion deal with Disney-owned Star India over five years, which significantly boosted its revenues. In 2022, it resigned with Star India in a $4.3 billion deal.
This was coupled with an additional deal with Viacom18 priced at $4.3 billion. The value of this deal, which extends to 2027, was $8.6 billion, making the IPL worth more than any other cricket league and boosting it to become the second-richest sports league in the world. Additional revenue streams have also been generated through lucrative sponsorship deals.
Is the IPL Worth Watching?
While many newcomers to cricket may struggle with the sport due to its slow pace, the IPL uses the Twenty20 (T20) format to make it more thrilling. T20 cricket is shorter than standard cricket, with each team having 20 overs to score as many runs as possible. Each inning lasts around 80 minutes, so games go for roughly three hours rather than several days like test match cricket.
This format encourages aggressive batting, skilled bowling, and strategic gameplay, with added rules such as powerplays and free-hits making gameplay even more exciting. The live games attract passionate crowds that add to the high-energy atmosphere, with IPL games full of amazing shots and bold fielding.
The league has also integrated celebrity and culture into the broadcasts to add a layer of entertainment, and its employment of emerging talent keeps the Indian cricket league fresh. This makes it among the best cricket leagues to make live bets on at the best IPL betting sites.
The Birth of the Indian Premier League
The Indian Premier League launched in 2008, one year after it was announced by the Board of Control for Cricket in India (BCCI). It was conceptualized by Lalit Modi and was initially pitched as blending entertainment with cricket, taking inspiration from international leagues such as the NFL and English Premier League.
At first, there was skepticism over how the BCCI could sustain an additional cricket league to its heavy roster of traditional formats, and the inaugural draft which saw teams bid for cricket stars was controversial. However, its first year was an instant success, with stadiums selling out and TV viewership figures soaring to around 48 million people.
The first season featured eight teams that represented different cities across India. These included the Chennai Super Kings, Delhi Capitals, Punjab Kings, Kolkata Knight Riders, Mumbai Indians, Rajasthan Royals, Royal Challengers Bangalore, and Deccan Chargers. Each team was sold for large sums, with the Mumbai Indians sold for over $110 million.
As the IPL brand value increased, so did the roster of top stars. The inaugural season was surprisingly won by the Rajasthan Royals, which was led by Australian cricketing legend Shane Warne. Other major stars included Sachin Tendulkar, Adam Gilchrist, and MS Dhoni, while the league also helped to foster the talents of top-ranked current stars such as Virat Kohli and Rohit Sharma.
As the early seasons progressed, the format was tweaked to include cheerleaders, post-match parties, and timeouts, which made the IPL worth watching for the entertainment factor alone. Still, though, no one could have seen how successful the league would become.
The Evolution of the IPL
From its small local beginnings, the Indian Premier League has grown to become an international phenomenon. In 2011, the league was altered to include an additional two teams: Pune Warriors India and Kochi Tuskers Kerala. After these teams faltered, they were replaced by the Gujarat Titans and Lucknow Super Giants. There are now 10 teams.
The Gujarat Titans would go on to make history by winning in their debut year. As the league progressed, there were several more alterations to the format. This included changing the playoffs system to include an eliminator and qualifier match. The tournament window has also been extended from 45 days to around two months.
The Chennai Super Kings and Mumbai Indians have become fierce rivals, both winning five titles each. Standout moments include Virat Kohli’s record-breaking 973 runs in the 2016 season and Chris Gayle’s 175 not out in 2013. These are indicative of the league’s success, with never-before-seen records in cricket being broken before viewers’ eyes.
Bolstered by its international media rights deals, the IPL has reached dozens of new countries. This has helped the IPL revenues soar, further increasing its resources to coach new talent. In 2023, the Women’s Premier League debuted, marking another notable milestone in the IPL’s evolution.
The Impact on India
Beyond the entertainment factor, the IPL has become a source of pride among India’s population. With the league showcasing several regional teams beyond the big cities, it has helped to bridge the divide between different regions. Its blending of Bollywood-style entertainment elements has also made it a cultural powerhouse, and economically, it has added billions of dollars and created thousands of jobs.
Cricket is revered on an almost religious level in India, so the fact that the league has also improved the performance of India’s national team is another success celebrated by the local population. This has been thanks to the IPL’s nurturing of emerging talent, as well as increased investment and development of player relationships.
Global Impact of the IPL
In recent years, the IPL’s international viewership figures have exploded. While the 2023 season saw the sport attract more than 500 million viewers, the 2024 season saw a rise of more than 20% to over 620 million viewers. While this is well under the nearly 2 billion that watch the EPL, it is fast approaching the milestone.
The local success of the IPL has also inspired similar tournaments in other cricketing nations. This includes the Big Bash League in Australia and the Caribbean Premier League. It has also created concern among other international sporting bodies. As the richest cricket organization in the world, the BCCI has recruited major talent from England and Australia.
This has caused the organizations to place restrictions on some star players. There is hope that the IPL will help cricket to finally crack the US market, with its spectacle-based format and faster pace making it more palatable for new generations of viewers. A new US Major League Cricket tournament has already attracted local fans with hopes to become the second largest after the IPL.
The Future of the IPL
In 2024, the IPL saw its first decline in valuation since it was launched, dropping around 10% to around $10 billion. This was due to a reassessment of its media rights values rather than any decline in viewership or revenues. Therefore, it is likely still set to face continued growth from its true value in the coming years.
The success of the IPL around the globe will likely increase the valuation of its next deal with Disney in 2027, and if its broadcasts continue to reach new markets, its growth trajectory will continue upward. Another huge opportunity for the IPL is the Women’s Premier League, which increased in value by 8% in 2024 to $160 million.
The future looks bright for the IPL, and the coming years could see additional teams added, and the slight possibility of the lifting of the ban on Pakistani players competing. If this were to happen, its audience would likely explode further, and in time it could even rival the EPL to become the most popular sports league in the world.
