Kotak pegs IPL valuation at $18B
- Kotak Mutual Fund said in an April 2 note that the Indian Premier League ecosystem was worth about $18 billion in FY25. - The report ties that scale to media rights that jumped from $918 million in 2008 to $6.2 billion for 2023-2027. - Other valuers have put the league near that range, with Houlihan Lokey estimating $18.5 billion in 2025. (hl.com)
Kotak Mutual Fund said on April 2 that the Indian Premier League ecosystem was worth about $18 billion in FY25. (kotakmf.com) Kotak framed the league as an eight-week property with value close to India’s broader sports industry, which it cited at about $19 billion. (kotakmf.com) (fortuneindia.com) The biggest engine in that model is media. Kotak said IPL rights rose from $918 million in 2008 to $2.55 billion for 2018-2022, then to $6.2 billion for the 2023-2027 cycle. (kotakmf.com) (iplt20.com) Title sponsorship has climbed too. The Board of Control for Cricket in India said Tata Group renewed IPL title rights for 2024-2028 at ₹2,500 crore, or about ₹500 crore a season. (iplt20.com) Kotak said the league now reaches about 1 billion viewers across television and digital platforms, with 600 million to 650 million unique viewers in recent seasons. (kotakmf.com) It also said the opening weekend of IPL 2025 generated 1.37 billion views, and projected advertising revenue of about $600 million in 2025. (kotakmf.com) (fortuneindia.com) That $18 billion figure is not the only valuation in the market, but it sits close to other recent estimates. Houlihan Lokey put the IPL’s business value at $18.5 billion in its July 2025 study. (hl.com) A different yardstick produces lower numbers. Brand Finance said the IPL system’s cumulative brand value was $12 billion in 2024, then said its 2025 ecosystem value fell to $9.6 billion amid geopolitical tension and auction-related uncertainty. (brandfinance.com 1) (brandfinance.com 2) The gap comes from methodology. Kotak and Houlihan Lokey are describing a business or ecosystem value built on cash flows, while Brand Finance measures brand value, which is a narrower asset. (kotakmf.com) (hl.com) (brandfinance.com) The upshot is that the IPL is being priced less like a cricket tournament and more like a premium media property. Kotak’s case is that short seasons, locked-in rights, sponsorship demand, and digital reach keep pushing that valuation higher. (kotakmf.com)
