'Yeh IPL revenue nahi, Pakistan ki GDP he' - Fans react as details of Indian Premier League 2023 ad revenue gets revealed

IPL 2023 (Source: Twitter)

If cricket is considered a religion in India, then the Indian Premier League (IPL) is a festival for Indian cricket fans. The annual men's franchise T20 league was established by the Indian Cricket Board in 2007 and it didn't take long for the tournament to establish itself as one of the biggest cricket leagues in the world.

Since its first edition in 2008, the league has served as a great platform for cricketers from all over the world to showcase their talent to the world and gives youngsters an opportunity to share the dressing room with the top players. However, the two-month-long tournament is not limited to this and also allows players to earn a substantial sum.

The IPL has a higher market value all over the world, and it is the only cricket event in the list of lucrative leagues, with over 48,000 crores in media rights alone. It has a unique business model that combines cricket, entertainment and marketing strategies. Having said that, the ad revenue generated by the cash-rich league during the IPL 2023 has now been revealed.

How much ad revenue was generated in IPL 2023? 

The 16th edition of IPL saw a significant growth in advertising revenue. According to a Mint report, ads generated Rs 10,120 crore in the 2023 season. Of this, 65% was earned by the Indian Cricket Board, franchise owners and broadcasters directly and the rest was earned indirectly.

The report further said that the event broadcasters - Star Sports and Jio Cinema - earned ₹4,700 crores in advertising revenue. At the same time, all ten franchises earned around ₹1,450 crore, while the governing body got about ₹430 crore.

Meanwhile, the 2023 season isn't only about a spike in TV ratings, but helping fantasy sports platforms make huge profits. According to a report by consulting firm Red Seer, millions of people bet their money on fantasy apps and the platforms earned revenues of ₹2,800 crore in the recently concluded edition. It is learned that 61 million users participated in fantasy gaming, representing a 24% rise over the previous year's income.

Here's how fans reacted: 

And what saying 😂 pic.twitter.com/wwGyDBhAa3

— HUSNAIN (@HUSNAINMANJ26) July 4, 2023

Pakistan: Are bhaijaan itne paise bhi hote hai kya.

— me.mer7073 (@HeadHun43347290) July 4, 2023

pic.twitter.com/JSNNkBcQ2G

— VISH ॐ (@ROLEGANDU) July 4, 2023

That's a lot of money spent when we go to take a piss between the overs 😂

— 👑Regal👑 (@anubhav4sure) July 4, 2023

Bro saying GDP of Pakistan as IPL revenue and people believe

— J🏏 (@Bharatslumdog) July 4, 2023

More than pakistan annual economy 😭

— Viaan 🖤 (@viaan7781) July 4, 2023

Still we don't have hover cover in stadiums...

— Akash (@AkashBorude7781) July 4, 2023

Still no tax, because BCCI is a charitable organisation.
What the hell🤣

— Shadab (@ImHussainShadab) July 4, 2023

Hugeeeee 🔥ipl is miles ahead

— Cskian_nimzy (@NIMISHDOSI) July 4, 2023