We all have felt the excitement and anticipation in the atmosphere when the IPL is around the corner. The cut-throat competition, players selections, team formation, and performance are a few things we all are exhilarated about. In addition, the electrifying competition amongst the varied players representing significant cities of India pushes the fans to the edge of their chairs. The tournament began in 2008 when BCCI spotted some significant market trends pointing towards the conduciveness of a domestic tournament like IPL. Introducing IPL at the right time works as it is one of the most successful domestic leagues today. Thus, here are some of the leading reasons behind the proliferating popularity of IPL:
- Passionate Audience- Indians have always been emotional about cricket holding the sport very close to their hearts. Thus, IPL is a perfect medium for drawing the audience’s attention and building a loyal fan base for the cricketers. Many IPL apps link the fans to their favorite tournament.
- Business Model- The Indian Premier League is by far one of the most remarkable achievements of the Indian sports industry. Albeit most of us only know it as an iconic summertime sports sensation, the lucrative economic aspect of the domestic tournament—the Indian Premier League, is that it is a capitalistic miracle in many ways. The glitz and glamor and heavy promotions, including the nationwide campaigns with celebrities, songs, ads, posters, and PR activities for the IPL fantasy league make it a unique occasion celebrated by millions. The most astonishing thing about IPL is that despite the lockdown during the pandemic in 2020, when most companies were going through a severe financial crisis, BCCI’s revenue from IPL catapulted exponentially. The brand value of IPL is estimated to be around $4.7 billion. Every year, you would find many celebrities and Bollywood stars putting in a great deal of money and resources. The stellar business model of IPL is applauded by erudite investors and sports enthusiasts. It also contributes heavily to promoting cricket worldwide.
- Celebrity Presence- To draw the attention of many people, companies have been leveraging the strong influence of celebrities for decades. IPL is no different as it is truly a star-studded event as superstars and successful business entities like Shah Rukh Khan and Mukesh Ambani are present. The presence of these celebrities majorly impacts the lifeblood of the ecosystem, i.e., fans, and entices them to download the IPL cricket app and view the tournament live.
- Online Streaming & Fantasy Sports Platform- The streaming platforms connect the players directly to the most significant stakeholders of the tournament – fans. Fans get to watch the match in real-time from anywhere with the help of a streaming platform. Thus, these apps have significantly contributed to expanding the reach of the matches. The forward-minded audience wants more from everything, and IPL is in no isolation. Many people want to watch clear, detailed, multi-dynamic matches on their devices and participate in them virtually. The introduction of the IPL fantasy league has catered to these audiences, thus broadening the loop. Here, the fans can show off their skills to the world.