CHENNAI: The merger of two major broadcasters last year and the real money gaming ban recently have led to the decline of cash-rich Indian Premier League ecosystem’s valuation over two consecutive years for the first time. This was presented in the latest report of D and P Advisory, a consulting, advisory, and valuation services firm. Titled ‘Beyond the 22 Yards: The Power of Platforms, The Price of Regulation’, the report says that the value of the league has gone down from Rs 92,500 crore in 2023 to Rs 82,700 crore in 2024 to Rs 76,100 crore this year.
The predominant reasons for the decline is the lack of competition for the media rights post the Viacom18 and Disney's Star India merger in late 2024 and the ban on real money gaming apps and sponsors this year. This led to the exit of Dream11 as Indian team’s sponsor — it was also associated with at least eight IPL teams — and My11 Circlet, IPL sponsor, is also expected to follow the same. RMG platforms were contributing Rs 1500-2000 crore annually across league, franchise, and broadcaster deals.
As a result, despite the steady growth in television and digital viewership, the way forward will be about exploring new avenues and sponsors. “The way forward lies in deepening digital monetization, building fan communities, and exploring new advertiser categories like fintech, consumer tech, and lifestyle brands to offset the lost gaming spends,” N Santosh, managing partner of D & P advisory told this daily. “The growth levers for IPL are evolving — from explosive valuation jumps to sustained brand building, stronger fan loyalty, and deeper regional engagement across both physical and digital platforms,” he added.
Meanwhile, the ecosystem value of Women’s Premier League dipped from Rs 1350 crore in 2024 to Rs 1275 crore this year, but it is looked at as a phase of consolidation after early exuberance rather than a structural issue. The overall television ratings jumped by approximately 142 per cent year-on-year, making the WPL one of India's fastest-growing broadcast properties. However, it, too, is not immune to impact due to the merger and RMG ban that has happened in the last 12 months or so. “The merger will likely bring more pricing discipline to WPL media rights, while the RMG ban could temporarily soften ad demand. However, with top IPL franchises driving visibility, long-term stability in rights value remains intact,” Santosh explained, before adding, “WPL will find it harder to attract steady sponsors compared to IPL, as most big advertisers are already committed. Building a consistent viewer base and relatable storytelling will be key before adding more teams.”
Overall, both leagues are at a stage where there are things to be worked out.
“In the post-RMG phase, both IPL and WPL need to rebuild their sponsor ecosystem—focusing on long-term brand partnerships, fan experiences, and digital engagement instead of quick high-spend deals,” Santosh signed off.
