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New Delhi, Jun 4 (IANS) When it comes to pricing, the IPL per game is set to get a 70% discount from global averages, which could converge to 20-30%, thanks to the renewal of the IPL in 2023-2027. In addition, IPL’s media rights revenue CAGR of 10.4% is much higher than the 8% CAGR of other global leagues (EPL, NFL, NBA) since their inception, Elara Securities said in a report. .
Thus, cricket, especially IPL, is approaching pioneer innings in India, Elara Securities said in a report.
The global sports industry has emerged as a mega-growth opportunity, with US sports media rights revenue CAGR of 8.2% through CY12-21, accounting for 45.2% of global sports media revenue. media rights in 2021.
Of this impressive cake, football takes the lion’s share with 39%.
However, of all sports, cricket dominates the Indian market, with a staggering 94% share of media rights compared to just 3% globally.
Cricket could continue to enjoy such dominance in India, in the medium term, backed by big money-making properties such as the IPL. Thus, expect the IPL renewal to support media rights growth in India in the medium term.
The so-called digital segment report, is the great delta for IPL. IPL team revenue CAGR (average of four teams) is historically 14%.
Expect a CAGR of 16% through FY22-28E. In addition, media rights revenues represent 70% of total revenues and are expected to increase sharply when rights are renewed. Media rights in the previous cycle (2008-17) had quadrupled to Rs 163.47 billion (2018-22).
Expect IPL media rights for the next cycle (2023E-2028E) to increase 3-4 times (25% growth due to more matches) to reach 500-600 billion rupees, driven by the most strong growth of digital media, according to the report.