Indian Premier League: IPL surpasses $10 billion mark, becomes a decacorn

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The rapid rise of the Indian Premier League (IPL) has had another feather in its crown as the cash-rich tournament became a Decacorn.

What is a Decacorn?

The valuation of IPL has surpassed $10 billion in the past year and thus it will now be falling into the decacorn category. Decacorn is a unit of valuing a company that surpasses its revenue of US Dollars 10 billion.

A D and P advisory report released on Tuesday stated the league is now valued at $10.9 billion and has made a humongous 75% growth since 2020.

IPL started in 2008 and in just 15 years, it has made a rapid rise. The milestone has been reached and it promises to grow further in the coming years. The D and P report also says IPL's sudden rise in revenue stemmed from selling the media rights from 2023 to 2027. In the previous cycle, it generated $6.2 billion from media rights. IPL 2023 will also be the first edition that will see the media rights being distributed among multiple broadcasters.

The TV rights for IPL have been acquired by Star Sports Network while Viacom 18 got the streaming rights.

Also, the addition of two new franchises has helped in the growth. Gujarat Titans and Lucknow Super Giants joined the IPL fold and were combinedly sold for $1.6 billion.

IPL: Second Biggest Sports League in the Globe

IPL also ranks second worldwide in terms of money made from broadcasting fees for every game. Each IPL match generates $12 million, which is only second to the National Football League (NFL) of USA, which creates $17 million per match.

With the IPL match numbers set to rise in the coming years, the cumulative revenue may surpass every other tournament and IPL may sit at the top. The D and P report also mention another important factor for the growth, which is ensuring the preservation of the quality of cricket on the field. The report said apart from the love for the game, IPL will evolve further if they can attract broadcasters and masses through the quality of the game.