Market Trends of India Spectator Sports Industry
The Rise of Cricket in India
Cricket is a sport that has a long and storied history in India, and its rise in popularity has been nothing short of impressive. Cricket has evolved into one of the most popular and beloved sports in the country, with a massive following and a thriving professional league. India's governing, the Board of Control for Cricket in India, takes a larger share of global revenues than England and Australia combined. India influencing the game is played, with test teams such as England increasingly adopting crowd-pleasing, aggressive playing styles that fans trace back to the IPL's shorter, fast-paced Twenty20 format. Over the next few decades, cricket continued to grow in popularity, with numerous clubs and teams being established all over the country.
Increase in Sponsorship
The increase in spending was due to the rise in the number of IPL matches, the addition of two new IPL teams, the ICC T20 World Cup, Asia Cup, and FIFA World Cup, and the return of emerging sports events and tournaments like PKL, marquee marathons, Maharashtra open and Commonwealth Games 2022. Indian women athletes and women cricketers are making a name for themselves on the international stage.
The renewal of IPL sponsorships in the 2023 season, BCCI home series title and central sponsorship along with team India sponsorship, BCCI home series media rights, and the inaugural season of WPL in March 2023 will be the tipping point for Indian cricket. The rise of Indian cricket, the performance of Indian athletes, and the number of emerging sports leagues have all contributed to India becoming a sporting nation in the last ten years.
The growth of cricket sponsorship is due to several reasons, including the Indian cricket team playing almost double the number of matches as compared to 2021. The Indian Premier League (IPL) contributed the major revenue, adding two new franchises, Gujarat Titans and Lucknow Super Giants, and a full house of central sponsorship.
