‘Kolkata Knight Riders Tops IPL 2017 Brand Value List’
Kolkata Knight Riders (KKR) has been named the most valued team in the Indian Premier League (IPL), according to a report published by branded business valuation firm Brand Finance on IPL 2017.
The IPL team is currently valued at $58.6 million, which is 24 percent more than last year.
The report further mentioned that, when compared with 2016, the value of IPL grew 9 percent in 2017 to $3.8 billion.
Stadium attendance increased 25 percent from 2016 even before the season was over, while last year’s television viewership numbers were beaten already by Match 43 this year.
Social media engagement peaked too, with nearly 6 million tweets sent over the season’s first five weeks, added the report.
KKR is the fastest growing franchise in terms of brand value with a 24 percent year-on-year growth, while Royal Challengers Bangalore failed to perform both on the field as well as on the commercial front, finishing last on the points table and posted lowest year-on-year growth of 4 percent.
IPL has been a success story for owners as well as players. With ten seasons completed, IPL is the biggest Twenty20 cricket league in the world.
According to Ajion Francis, managing director of Brand Finance India, “The brand value is created on the basis of how much of a franchise’s absolute revenue the brand hypothetically contributes.”
