Chennai Super Kings. (Photo Source: BCCI/IPL)
Despite the format evolution, sports sponsorships in the country went up to a staggering ₹15,000 crore in 2023, according to a new report.
The report by GroupM ESP, the entertainment, esports, and sports division of GroupM India highlighted that cricket dominated the sponsorship, accounting for 87% of the total spending at ₹13,701 crore. This marked the 13% year-on-year growth
Recently the TATA Group secured the Indian Premier League (IPL) title sponsorship rights for a record ₹2,500 crore over five years. Having previously sponsored the IPL in 2022 and 2023, TATA also backs the Women’s Premier League.
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The IPL itself witnessed a valuation surge to $10.7 billion in 2023, a 28% jump from 2022 and a remarkable 433% rise since its inception in 2008. Its broadcast value of $14.2 million per match broke the records of premier events like the English Premier League and Major League Baseball.
While TV ad spending for the IPL dipped by 17%, digital advertising grew by over 25%, accounting for 40% of the overall sports ad spending. The ICC Men’s Cricket World Cup provided an additional boost, with both TV and digital ads surging over 40% compared to the 2022 T20 World Cup.
Beyond cricket, emerging sports witnessed a marginal 1% decline but still accounted for 13% of the industry expenditure at ₹2,065 crore. However, the real growth driver was franchise fees, which skyrocketed by 60% to ₹2,628 crore, contributing significantly to the 24% increase in overall sponsorship revenue to ₹7,345 crore.
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As the nation reinforces its passion for cricket through monumental sponsorship deals and innovative digital engagement, the sport’s future in India appears brighter than ever. The country’s unwavering love for the game has translated into a financial powerhouse, cementing cricket’s enduring legacy.