What Makes Indian Premier League (IPL) so Hot?

In this sales2marketing article we will try to see the Indian Premier League (often abbreviated as IPL) in marketing point of view. Why it so successful in so short of time? IPL is a Twenty20 cricket competition initiated by the Board of Control for Cricket in India (BCCI) and supervised by BCCI Vice President Lalit Modi, Chairman  and Commissioner for IPL. It presently includes 10 teams called "franchises" consisting of players from different countries. It was started after altercation between the BCCI and the newly-created Indian Cricket League.The IPL works on franchise system based on the American style of hiring players and transfers.

Whats makes it so popular in India and abroad?

Here are some reasons for IPL success in India.

1) Its format: 20-20 overs which requires only 3 to 4 hours time to finish match. 

2) Indian viewers interest in Cricket- great fan following (eat, drink, sleep & digested cricket attitude).

3) Glamourous look to IPL (Cheergirls, strategic breaks, filmi Celebrity association, presence on ground).

4) Marketing Buzz (Association of Brand, their unique way to promote their brands).

5) Vision (Man behind the show Mr. Lalit Modi, he knows where, what & How).

6) It attach International players almost all test cricket playing countries which gives result in their fan following and vice-versa.

7) Fair and quality Play - Spirit of game(Till date)

8) Given different regional representation to teams which covers entire India.

9) Ownership of Franchisee given to Professional business tycoons like Ambanis, Vijay Mallya, Nes Wadia and latest Mr Subrato Roy and many more. 

10)Match timings in Afternoon & evening time as concern with India(Prime-time)

Commercial Aspect of IPL.
1) It was the first sporting event ever to be broadcast live on the popular video sharing website Youtube.
2) Sony/World Sport Group -Broadcast Rights 10 years at Rs 8700 crores.
2) Brand value was estimated to be around $4.13 billion (over Rs 18,000 crore) in 2010.
3) According to global sports salaries review IPL is the second highest-paid league, based on first-team salaries on a pro-rata basis, only second to NBA league. It is calculated that average salary of IPL over a year is £2.5 million.
4) DLF Group paid US$50 million to be the title sponsor of the tournament for 5 years from 2008 to 2013
5) In 2010, the IPL expects to have 80 official merchandising deals.
6) five-year sponsorship agreements include a deal with motorcycle maker Hero Honda worth $22.5-million, one with PepsiCo worth $12.5-million, and a deal with beer and airline conglomerate Kingfisher at $26.5-million.
7) There are disputed figures for the profitability of the teams, but in season one profit remains more over flat, in season 2, four teams out of the eight made a profit and IPL season 3 is going on...lets see.
8) Many other deals which are not disclosed.

So from this figures we can imagine what type of commercial interest involved in IPL. Which combine with viewers interest gives IPL grand success, more eyeballs.
As per Mr Lalit Modi, he wants to make IPL most successful sporting event than any other sport format in the World(NBA, Wimbledon, Grandprix etc.). Also if IPL want more professional approach, nothing can stop them from come with IPO for listing in stock exchange similar like Manchester United was listed in the London Stock Exchange (1992) at GBP 47 million.

Hope you will like this sales2marketing article....Enjoy IPL....Enjoy Cricket.... keep watching!!!                                   (Source:Wikipedia)