Chennai sources stated that the overall value of the IPL ecosystem grew 18.8 per cent to USD 6.3 billion from USD 5.3 billion in 2017, mostly due to the surge in the broadcasting rights fee. Meanwhile the Mumbai Indians, with a brand value of USD 113 million, continues to top the charts for the third season in a row.
Accordingly Star India, the new broadcasting partner for the Indian Premier League (IPL), increased the broadcast rights fee by 18.9%. Furthermore under Star, content delivery expanded to its various regional channels with commentary in eight different languages and hence this resulted in increased viewership of IPL matches, according to the IPL Brand Valuation Report 2018 prepared by Duff & Phelps, a global valuation and corporate finance adviser.
Varun Gupta, MD, Duff & Phelps and Asia Pacific
leader for valuation advisory services said “Star India’s broadcasting rights
deal was a game changer that put IPL on par with some of the biggest sporting
leagues in the world (on a fee per match basis) and the change in content
consumption, influx of over the top (OTT) and digital viewing platforms and
increased support from advertisers, broadcasters and sponsors have given the
IPL greater significance in terms of brand value”. Further the 11th season of
the cash rich league in 2018 also witnessed the importance of OTT sports
viewership, which has become an established and fast growing market.
ISRO successfully launched GSLV-Mk III on Wednesday Indian Space Research Organization (ISRO) stated that the countdown had begun for the Wednesday evening launch of India's heaviest rocket GSLV-Mk III, carrying communication satellite GSAT-29 at the rocket port in Sriharikota. According to the Indian space agency standing at 43.4 metre tall and weighing 640 ton, the Geosynchronous Satellite Launch Vehicle (GSLV-Mk III) had taken off at 5.08 pm on Wednesday.
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