For the first time in seven years, the brand value of the Indian Premier League (IPL) in dollar terms fell 8.7 per cent in 2020, according to a Duff & Phelps report released on Wednesday, as Covid-19 challenges hit franchisee revenues, gate receipts, and food and beverage sales.
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In rupee terms, the drop is 3.6 per cent, the report said.
The T20 tournament was played for a TV and digital audience only last year and shifted to the United Arab Emirates in view of rising Covid-19 infections in India. Consequently, TV viewership of IPL 2020 surged to its highest ever as in-home audiences lapped up the tournament, according to the Broadcast Audience Research Council of India (BARC).
Advertising volumes too surged, with digital and internet economy brands marking their presence well across properties, whether it was title sponsorship (Dream11) or last-minute advertising.
All eight franchisees, however, saw their brand value fall in 2020, Duff & Phelps said, as most struggled with lower sponsorship revenue and off-field issues. Fan engagement and meet and greet events were missing. And franchisee sponsorship deals were down almost 15-20 per cent in the 2020 edition.