The value of the IPL has fallen for the second year in a row. This happened mainly because media rights are now controlled by JioStar, which ended competitive bidding, and because the ban on real-money gaming caused losses of up to ₹2,000 crore.
According to a report by consulting firm D&P Advisory, the IPL’s value dropped by 8% to ₹76,100 crore in 2025. The league had reached its highest value of ₹92,500 crore in 2023. The Women’s Premier League (WPL) was also affected, with its value falling by 5.6% to ₹1,275 crore in 2025.
However, this did not affect the BCCI’s overall revenue. Despite losing Dream11 as a sponsor and receiving a lower share of ICC revenue, the board’s finances remained strong. The BCCI covered the shortfall by signing a new sponsorship deal with Adidas and later added Apollo Tyres as another sponsor.
How did the online gaming ban disrupt the IPL’s business model?
Another major blow to the IPL ecosystem came in August when India banned online money gaming due to concerns over addiction, money laundering, and financial fraud. According to a report, this nationwide ban removed around ₹1,500-2,000 crore annually from advertising and sponsorship revenue. The sudden loss of revenue caused a clear gap for broadcasters, franchise sponsors, and fan-engagement activities.
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The overall market value of the IPL has fallen by 20% over the past year, from $12 billion in 2024 to $9.6 billion in 2025, according to a Brand Finance report. The fall has been linked to geopolitical issues during this year’s tournament and changes within teams across the IPL ecosystem.
This drop takes the IPL’s value to its lowest level in the last five years. It is similar to the decline seen in 2020 during the COVID-19 pandemic and marks the first time since 2023 that the league’s brand value has gone below $10 billion.
How is reduced media competition impacting IPL’s revenue growth?
In 2024, Mukesh Ambani’s Reliance Industries and Walt Disney combined their Indian media businesses to create JioStar. This merger reduced competition for IPL’s TV and streaming rights, which earlier helped make the IPL the most profitable cricket league in the world.
With JioStar controlling most broadcast and streaming rights, competition has reduced. Thus implying that future IPL media rights auctions may not see the massive jumps in value seen earlier. As a result, growth in media rights revenue is now expected to be moderate (15-20%), instead of record-breaking increases.
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Earlier, multiple broadcasters competing pushed prices higher. Now, with fewer serious bidders (and the Sony-Zee merger failing), the IPL ecosystem faces downward pressure on valuations, even though the product remains strong.
The ban on real-money gaming hurt broadcasters’ ad revenues and reduced franchise sponsorship opportunities. While BCCI can replace real-money gaming sponsors in terms of numbers, these companies played a unique role in driving fan engagement and conversions. Other advertisers (like FMCG brands) see IPL as just one of many marketing options, not a core platform.
Reports of JioStar Exit Dismissed as ICC Reaffirms Media Deal
A report in the Economic Times in the first week of December suggested that JioStar, which had signed a $3 billion broadcast deal, told the ICC it couldn’t continue with the contract due to financial losses and was seeking a new media rights partner in India.
The ICC and JioStar responded to recent media reports about their India media rights deal, saying the reports were inaccurate. They confirmed that the existing media rights agreement remains entirely in force and that JioStar remains the official media rights partner for ICC events in India. Both organisations emphasised they are focused on providing continuous, high-quality coverage of upcoming ICC tournaments, including the Men’s T20 World Cup.
