IPL’s Brand Value Surges To $3.8 Billion; KKR Emerges As The Most Valuable Brand, Mumbai Indians Most Powerful Brand!
Mumbai Indians defeated Rising Pune Supergiant on May 21st to become IPL champions for the third time. But does that mean Mumbai Indians is the most powerful brand within the IPL ecosystem?
Think again, because that is not the truth.
Brand Finance, which is a brand valuation and strategy consultancy, has calculated the financial semantics of the brand IPL, and their biggest, most charismatic teams. And the results will surely surprise you.
Shahrukh Khan’s Popularity Makes KKR As The Most Valuable Brand
Despite not winning the IPL title, and being knocked out of IPL by Mumbai Indians, Kolkata Knight Riders have retained their top position as the most valuable brand in IPL. Right now, after IPL 10 ended, KKR’s brand value was worth $58.6 million, which is a steep 24% increase in brand valuation, compared to last year.
As per the analysis of Brand Finance, KKR’s rising value as a brand can be mainly attributed to Shahrukh Khan, who is an immensely popular Bollywood actor. Due to the Shahrukh factor, KKR brand continuously received several exclusive brand contracts from various advertisers, which helped them to cement their position.
Mumbai Indians Is The Most Powerful Brand
If we leave aside the value and only talk about power, then Mumbai Indians beat them all. With a valuation of $54.1 million, Mumbai Indians’ brand value is only $4.5 million less than KKR’s brand value.
And the very fact that they won the title also made their position stronger compared to other IPL teams. Overall, they received Brand Strength Index of 71, which included several factors such as ‘marketing investment, familiarity, preference, sustainability and margins.’
However, the report from Brand Finance does mention this fact, that Mumbai Indians have not been able to transform their power of branding into commercial success, mainly in the forms of merchandising and advertisement deals.
Maybe they are lacking their own Shahrukh Khan, who can not only market sports but also create valuable financial assets from the same.
IPL Teams’ Branding Score
Sunrisers Hyderabad (SRH) also witnessed a massive increase in their branding score, and increase their brand worth 23% to reach $46.5 million, and have been positioned at #3 rank.
Royal Challengers Bangalore (RCB) is the only IPL team which lost its brand value this year. With an increase of only 4% in their brand value, RCB is now worth $44.4 million, and have been ranked #4.
Delhi Daredevils showcased average growth 13%, and their brand value increased to $40.5 million. Zaheer Khan’s leadership skills have been mentioned by the report as being ‘charismatic’.
Overall, IPL’s brand value has now increased to $3.8 billion (Rs 24,000 crore) this year, which is an increase of 9%, compared to last year.
Overall, stadium attendance increase by 25% and TV viewership record of 2016 was beaten by the time 43rd match was played. Around 60 lakh tweets were sent, during the first five weeks of IPL 10.
You can find the complete report by Brand Finance here.
Is KKR the most valuable brand and Mumbai Indians the most powerful brand of IPL? Do let us know what you think about the brand valuations, by commenting right here!