{"id":41771,"date":"2024-05-03T07:03:28","date_gmt":"2024-05-03T07:03:28","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/05\/03\/revenue-of-ipl-franchises-witnesses-sharp-decline-in-fy-2023-report\/"},"modified":"2024-05-03T07:03:28","modified_gmt":"2024-05-03T07:03:28","slug":"revenue-of-ipl-franchises-witnesses-sharp-decline-in-fy-2023-report","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/05\/03\/revenue-of-ipl-franchises-witnesses-sharp-decline-in-fy-2023-report\/","title":{"rendered":"Revenue of IPL franchises witnesses sharp decline in FY 2023 | Report"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"675\" src=\"https:\/\/i2.wp.com\/resize.indiatvnews.com\/en\/centered\/newbucket\/1200_675\/2024\/05\/untitled-design-2024-05-03t103236-1714712560.jpg?fit=1200,675&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Revenue of IPL franchises witnesses sharp decline in FY 2023 | Report\" title=\"Revenue of IPL franchises witnesses sharp decline in FY 2023 | Report\" \/><\/div><p> <br \/>\n<\/p>\n<div id=\"content\">\n<div class=\"atimgbign\" id=\"story-featured-image\" style=\"display: inline-block;\">\n<figure class=\"artbigimg row\"><figcaption><span class=\"author\">Image Source : IPL<\/span> Captains of all the teams with the IPL trophy.<\/figcaption><\/figure>\n<\/p><\/div>\n<p class=\"artconfp\">The average income of all the <a target=\"_blank\" href=\"https:\/\/www.indiatvnews.com\/topic\/ipl\" rel=\"noopener\">IPL<\/a> franchises excluding Punjab Kings, Sunrisers Hyderabad and Gujarat Titans registered a sharp 23% decline in FY 2023 (financial year) compared to FY 2019 (pre-COVID era).  <!-- \/8323530\/ITv_Desktop_VDO_1X1 -->\n  <\/p>\n<p>A report published by a market intelligence platform PrivateCircle suggests that Kolkata Knight Riders (KKR) registered\u00a0the highest drop in revenue &#8211; 38% whereas Mumbai Indians, owned by the Reliance group registered the least\u00a0drop of 9%.<\/p>\n<p>The report also revealed that the advertisements between the fixtures during the 2023 season of the Indian Premier League contributed to 17% of the total revenue\u00a0made by all the franchises.<\/p>\n<p>Notably, the Indian Premier League is one of the most viewed sporting spectacles in the country. The ongoing 17th season of the cash-rich league tournament registered a viewership of 35 crore during its first 10 games as per its official broadcasters.<\/p>\n<p>Hence, business conglomerates as well as budding start-ups invest heavily in the tournament to lure consumers and earn profit.<\/p>\n<p>Notably, the <a target=\"_blank\" href=\"https:\/\/www.indiatvnews.com\/topic\/faf-du-plessis\" rel=\"noopener\">Faf du Plessis<\/a>-led Royal Challengers Bengaluru (RCB) finished as the top franchise to earn the most income via sponsorship in FY 2023.<\/p>\n<p>Chennai Super Kings (CSK) stood second on the list with INR 78 crore whereas the GMR Group and the JSW Group-owned Delhi Capitals (DC) made INR 72 crore out of sponsorship in FY 2023.    <\/p>\n<p>Chennai Super Kings, who are the joint-most successful team in the history of the competition in terms of title wins seem to be succeeding outside of the playing field too. They witnessed a 19% spike in their sponsorship income in FY 2023 compared to FY 2022.<\/p>\n<p>Moreover, the RPSG group-owned Lucknow Super Giants witnessed an eye-popping 562% growth in revenue via sponsorships in FY 23 compared to their inaugural IPL edition (2022).<\/p>\n<p>Notably, the decline in the overall income suggests that the IPL market might be nearing its saturation point. The report underlines the &#8220;over-saturation of\u00a0cricket content, changing consumer preferences, or competing entertainment options&#8221; as the reasons behind the decline.<\/p>\n<\/p><\/div>\n<p><script async>\nfunction loadFacebookScript(){\n!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?\nn.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;\nn.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0;\nt.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,\ndocument,'script','https:\/\/connect.facebook.net\/en_US\/fbevents.js');\nfbq('init', '529056027274737');\nfbq('track', 'PageView');\n}\nwindow.addEventListener('load', (event) => {\n\tsetTimeout(function(){\n        loadFacebookScript();\n\t}, 5000);\n});\n<\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/www.indiatvnews.com\/sports\/cricket\/profit-of-ipl-franchises-witnesses-sharp-decline-in-fy-2023-report-2024-05-03-929301\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image Source : IPL Captains of all the teams with the IPL trophy. The average income of all the IPL franchises excluding Punjab Kings, Sunrisers Hyderabad and Gujarat Titans registered a sharp 23% decline in FY 2023 (financial year) compared to FY 2019 (pre-COVID era). A report published by a market intelligence platform PrivateCircle suggests [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":41772,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/resize.indiatvnews.com\/en\/centered\/newbucket\/1200_675\/2024\/05\/untitled-design-2024-05-03t103236-1714712560.jpg","fifu_image_alt":"","footnotes":""},"categories":[605],"tags":[881,4785,43499,999,9715,336,337,43498,812,811,343,61,2891,11801,8733],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/41771"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=41771"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/41771\/revisions"}],"predecessor-version":[{"id":41773,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/41771\/revisions\/41773"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/41772"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=41771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=41771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=41771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}