The Indian Premier League (IPL), once hailed as India’s most valuable sporting property, has seen its valuation decline for the second consecutive year, dropping from ₹92,500 crore in 2023 to ₹76,100 crore in 2025, according to D&P Advisory’s Beyond 22 Yards 2025 report. The 18% fall over two years has sparked widespread debate across the sports, media, and investment communities. Harsh Goenka, Chairman of RPG Enterprises, took to social media to explain the reasons behind the dip, citing the ban on real-money gaming advertisements, media rights consolidation, and sponsorship fatigue as key contributors.
Goenka emphasized that while IPL remains a cultural and commercial juggernaut, its ecosystem has been impacted by regulatory shifts and changing advertiser sentiment. Fantasy sports and gaming platforms, which previously contributed ₹1,500–₹2,000 crore annually across team, broadcaster, and league-level deals, were barred from advertising during IPL 2025, leading to a direct revenue hit.
🧠 Key Factors Behind IPL’s Valuation Dip in 2025
| Factor | Impact Summary |
|---|---|
| Gaming Ad Ban | Loss of ₹1,500–₹2,000 crore in annual ad revenue |
| Media Rights Consolidation | Reduced bidding competition, lower renewal premiums |
| Sponsorship Saturation | Brands seeking ROI, pulling back from multi-year deals |
| Regulatory Uncertainty | Policy shifts affecting advertiser confidence |
| Viewer Fragmentation | Rise of OTT and regional platforms diluting engagement |
Despite the dip, IPL 2025 remained one of the most monetized sporting events in India, with JioStar reporting record digital engagement.
📊 Timeline of IPL Valuation Trends
| Year | Valuation (₹ crore) | Key Development |
|---|---|---|
| 2023 | ₹92,500 | Peak valuation, record media rights auction |
| 2024 | ₹82,700 | Start of decline, gaming ad scrutiny begins |
| 2025 | ₹76,100 | Ban enforced, media rights consolidation |
The valuation dip marks the first time in IPL’s history that its ecosystem value has declined two years in a row.
🗣️ Reactions from Industry Leaders, Analysts, and Fans
- Harsh Goenka: “IPL’s value is not just about cricket—it’s about the ecosystem. That’s where the hit came.”
- Sports Marketing Analyst: “Gaming ad ban was a body blow. IPL needs diversified revenue streams.”
- Fans on Social Media: “IPL is still king. But the business side needs a reboot.”
| Stakeholder Group | Reaction Summary |
|---|---|
| Franchise Owners | Concerned about sponsorship renewals |
| Broadcasters | Reworking ad inventories and pricing |
| Advertisers | Exploring alternate sports properties |
| Media | Tracking IPL’s commercial evolution |
The Board of Control for Cricket in India (BCCI) is reportedly exploring new ad categories and international partnerships to offset the revenue loss.
🧾 Comparative Snapshot: IPL Revenue Streams (2023 vs 2025)
| Revenue Stream | 2023 (₹ crore) | 2025 (₹ crore) | Change (%) |
|---|---|---|---|
| Media Rights | 48,390 | 45,000 | -7% |
| Sponsorships | 18,200 | 15,600 | -14% |
| Gaming Ads | 2,000 | 0 | -100% |
| Ticketing & Merchandising | 5,500 | 5,800 | +5% |
| Franchise Revenue | 18,410 | 16,200 | -12% |
While ticketing and merchandising saw marginal growth, the overall ecosystem was weighed down by ad and sponsorship losses.
🧭 What to Watch in IPL’s Commercial Future
- New Ad Categories: FMCG, fintech, and EV brands may fill the gaming void
- Global Expansion: IPL franchises exploring overseas exhibition matches
- Digital Monetization: Subscription models and fan tokens under review
- Policy Engagement: BCCI lobbying for ad regulation clarity
Goenka concluded, “IPL’s brand is intact. But its business model must evolve with the times.”
Disclaimer
This news content is based on verified valuation reports, industry commentary, and media briefings as of October 18, 2025. It is intended for editorial use and public awareness. The information does not constitute financial advice, investment recommendation, or regulatory analysis and adheres to ethical journalism standards.
