The Beginning Masterminded by Lalit Modi, chairman of the marketing sub-committee of the BCCI, the Indian Premier League was launched on 14th September 2007 on the lines of English Premier League (Football) and National Basketball Association. Studded with the starry glitz of Bollywood and backed by the money-power of Indian business tycoons, the IPL has changed the face of international Cricket in 21st century. Bidding of Team Franchise
Redefining the current face of Indian cricket on Wednesday, 20th February 2008, it rained millions of dollars within ten hours in Mumbai’s Oberoi Hilton’s auction room, as 77 cricketers went for bidding in the player auction of Indian Premier League.
Bollywood superstar Shah Rukh Khan, biggest & one of the richest Indian corporates Mukesh Ambani and Vijay Mallya were among the franchise owners, of the eight IPL teams, to bid from the world’s best cricketers who were put on the show. The Economics of the Indian Premier League Money really matters and the IPL is no exception to it.
The IPL or the richest cricket league so far would fetch big bucks for the BCCI, IPL and all the eight franchisees. There are four major sources of income for the IPL :- • The sale of media rights for broadcasting of the IPL matches brought in Rs. 4,000 crs. Sony Entertainment Television (SET) and Singapore based World Sports Group got the global TV broadcasting rights of the Indian Premier League for the next 10 years. • The title sponsorship rights for the Indian Premier League has been secured by the DLF Universal, Indian real estate developer. Hero Honda group would be the associate sponsor.
Pepsico and Kingfisher Airlines are the IPL’s partners for tournament official beverage and advertising on Umpire’s clothes respectively. The revenue from the all above sponsorship rights have been described as Central Revenues with a proportion of 40% to IPL, 54% to franchisees and 6% to prize money. • The franchisees, apart from the share in central revenues, can earn money by franchisees rights like by selling advertising space in stadiums, by licensing products for their teams like T-shirts, advertising on tickets and gate money. The 20% of the amount earned in this head would go to the
IPL. From celebrities, Industrialists and politicians to a common man, every one loves cricket and there is no doubt that it is the most popular sports in world’s second most populous country. Indian Premier League changed the way cricketers thought of glory, fame and money. Cricket had a reputation of being a gentleman’s game. With the end of colonialization, new cricketing nations appeared on the cricket horizons. At that time it was considered as a threat to the decency and seriousness of Cricket as a sport. But new nations only brought fame, glory and money to Cricket.
In response to Zee network’s desire to create their own sporting content by organizing Indian Cricket League, BCCI decided to organize their own Indian Premier League. Big names like Mukesh Ambani bought the Mumbai team. Filmstars like Shahrukh Khan decided to sponsor Kolkatta’s team which has resulted into termendous media response for Indian Premier League. Soon Priety Zinta and Ness Wadia joined the league as sponsor of Mohali. Shilpa Shetty bought into Rajasthan Royals. ?This was quite enough for creating magnificent market buzz and spark interest among cricket crazy Indians.
But then there was a bidding by sponsors to select players for their teams. Chennai made a bid of 1,500,000 US Dollars for India’s star cricketer Mahinder Singh Dhoni. Australia’s Andrew Symonds is part of Hyderabad’s team with the bidding amount of 1,350,000 US Dollars. Indian Premier League (IPL) – Changing the paradigm of Advertising |March 22, 2010 04:04:31 PM IST | | |Enkayaar, Bollywood Trade News Network | | As the commercial juggernaut called Indian Premier League is gaining momentum, it is also throwing up interesting paradigms in the realm of advertisement in the form of a new copy on daily basis. No wonder stars like Abhishek Bachchan and Sharman Joshi would be laughing all the way to the bank. ?? For the advertisement fraternity IPL matches in the third season is creatively the most trying season as they have to be at their creative best not to allow the audience to leave the seats between the breaks as it is the time when their performance has to be unleashed. So, new campaigns everyday.
A singular trend worth underlining is that it is the campaigns associated with communications industry that take the cake. So we have an Abhishek Bachchan who is promoting “oongli cricket” (a new form of gambling one can cheekily say), a Shah Rukh Khan coming in a different avatar seeking tips for his teams to improve their performance (where it not for the IPL would a Urvashi Dholakia had got a chance to feature in a campaign for Nokia- distinct possibility), and a Sharman Joshi leading a charmed life with his campaign for Airtel with the punch line-Baat Karne se hi baat banti hai.
For Sharman Joshi there could not have been a better opportunity than Airtel to prolong his recall value in continuation of the phenomenal success of 3 IDIOTS. ?? The communication industry indeed is making the most merry in the sunshine provided by the IPL and is cornering the maximum quantity of hay indeed. No wonder, that an Aamir Khan has also deconstructed himself in the new Samsung add and become an “aam Aadmi”, to appeal to the aam Aadmi. (The jarring note in the campaign is that a Maharashtra Roadways Bus has been used to project the backdrop for a UP Roadways bus). ??
Vodafone led the impetus for new advertisements on a daily basis with its Zoozoo campaign that had a different advertisement each day, and it spurred the competitors to emulate it, in all probability. Havells is the only product, which is coming out with new campaign on a daily basis, a company that has nothing to do with communication industry, but is using the occasion to create awareness about good electrical equipments. ?? IPL is indeed the Super Bowl for India, and any student who wants to study the evolution of advertisement industry; there is no better platform than the IPL to do it.
When the curtain falls on IPL, it would indeed be a monumental period of paradigm shift for advertisement industry as well, as it may have to design campaigns that keep on changing on a daily basis, having whetted the appetite with the IPL. Global following In India, the IPL has become one of the most popular events of the year. In the first season, games were played every night (including weekdays) during Indian prime-time and were broadcast live. The IPL was the most watched TV program in India. IPL drew positive reactions from the rest of the world also. In Pakistan, the reception was described as “massive”.
The matches were telecast live in GEO Super. The matches also generated interest in Sri Lanka and Bangladesh, despite only one Bangladeshi player being involved. The following in the subcontinental nations was aided by the prime time telecast of the matches as they belong to adjacent time zones. The IPL became a big hit in South Africa due to a large composition of South Asians in their population. Another reason for the success is that the second edition of IPL was hosted at South Africa drawing massive crowds from the country as well as the other countries in the subcontinent.
The IPL did not garner much interest in Australia and New Zealand due to time differences. However, in recent times the IPL has gained a much larger fan-base in these two countries. Snap polls indicated that more than 48 million people watched the telecast of the IPL 2008 final between Rajasthan Royals and Chennai Super Kings, more than 40 million people saw the Rajasthan Royals vs Delhi Daredevils match, whereas the second semi-final between Chennai Super Kings and Kings XI Punjab attracted an audience of 29 million. 
The third season of IPL saw interest rise dramatically in the United Kingdom. This was, in part, due to TV coverage switching to free to view channel ITV4. Previous editions of IPL were aired on the now defunct channel Setanta (pay to view channel), which entered administration in 2009. James Macleod stated, “We are delighted with the viewing figures for the IPL so far. The ratings for ITV4s coverage have been around seven or eight times those achieved by Setanta last year, and we’re delighted to be bringing the competition to a wider audience”.
Lalit Modi, former Chairman and Commissioner of IPL, also expressed immense satisfaction on the way IPL has been accepted by the British audience. “ITV beats Sky Sports over the weekend in number of viewers. This is great going. The ITV numbers are double that of rugby league. This is huge by all imaginations. UK figures for viewership on ITV already 10 times that of last year. This is just fantastic news,” he said. The Indian Premier League presently includes 8 teams (franchises) consisting of players from different countries.
It was started after an altercation between the BCCI and the Indian Cricket League.  In 2010, IPL became the first sporting event ever to be broadcast live on the popular video sharing website YouTube.  Its brand value was estimated to be around $4. 13 billion (over Rs 18,000 crore) the same year. According to global sports salaries review, IPL is the second highest-paid league, based on first-team salaries on a pro rata basis, second only to the NBA. It is estimated that the average salary of an IPL player over a year would be ? 2. 5 million.
Cite this Indian Premier League
Indian Premier League. (2018, Jun 18). Retrieved from https://graduateway.com/indian-premier-league-essay/