Cricket Business: How it makes billions in India

Cricket, a game of Britain was highly
considered as the game for the rich. But when Britain colonized territories
across the globe, Cricket began to spread. It began to
transform into more crucial game other than England especially in India. In this
video we are going to see how money rooted Cricket in India and how it
transformed the game all over the world. Hey there, if you have any suggestions on
a topic to speak about please mention them in comments section. India
unexpectedly winning the 1983 World Cup was the dramatic event in the history of
Indian Cricket, which changed the course of the game in the following decades.
This event inspired many Indians for the quest of Cricket. This reached its peak
when Sachin Tendulkar, who is considered as the greatest batsman of all time performed at his best. This made Indians craze for the game of cricket. There
began the root for the commercialization of game which
transformed the Cricket in India to another level.
It was a time in India when only state owned television networks existed.
There were only fewer people to watch Cricket in television. But with the dawn
of globalisation in 1991, it opened the gates for the multinational media
corporations and companies to invest in growing new industry called sports
industry and focused mainly on Cricket. Business saw its opportunities in
television network. 1999 Cricket World Cup broadcasting rights in India for
television was sold for 12 million U.S dollars for Sony network. In India
major energy drinks company featured Cricket celebrities for the promotion of
their brands in early 2000s. The traditional Cricket match would be Test
match which takes five days to complete. Though test matches still attracts people
in England and Australia, but in India, it was reverse. People were less patient to
withstand Five days match. With the boom of T20 format in India, the mindset of
Indians on 50 over matches changed into dizzy task of watching over nearly eight
hours when there is a T20 match with totally three hours.
T20 format’s success lies in the heart of boundaries. The quick sixes, fours, wickets
in T20 rather than slow paced match in tests and one-day internationals
stirred the audience for the quick surge of adrenal thrilling experience. Though
there were many leagues in India, the perfect breakthrough for the T20 format
was IPL. IPL became the face of the T20 matches. It was all started in 2007,
when new format of game Twenty 20 World Cup tournament held and culminated the
people in thousands indicated the future of shorter form of cricket. Former Indian
player Kapil Dev who was the captain of Indian team when India won 1983 Cricket World Cup, started Indian Cricket League in 2007. But Lalit
Modi, who ran the Modi Entertainment Networks, was also the President of
Rajasthan Cricket Association had different ideas on the T20 cricket. Modi
analyzed the sporting leagues in USA and Europe. He decided to commercialize the
brand of Cricket through Twenty 20 matches. So alongside with BCCI, he
started the Indian Premier League in 2008 which is one of the richest sports
league in the world. There would be 8 teams in the name of Indian cities. The player who born in Indian cities represented their respected teams.
People fought over for their favorite players and for the state.
This created a hype which team would win. Today net worth of IPL alone is six
billion US dollars IPL forecasted the future of Twenty 20
cricket in India and made the BCCI the richest cricket boards in the world. I
have question how IPL team could earn in India, When they select players
for hundreds of thousands of dollar in auction where the winning team of the
IPL gets only hundreds of grand. From 2008 to 2012 Real Estate company DLF
sponsored the league for twenty eight million dollars for five years. But when
the craze for IPL boomed, the sponsorships for the next few years were
skyrocketed. Vivo got the rights for the sponsorship for next five years
for the amount of nearly 285 million dollars. In which 40% of it would go to
the governing body BCCI. The remaining amount would be divided to
the respective teams. There was also much competition for the
rights to broadcast Cricket in India but finally Disney’s Star India bid the
rights for 225 million dollars. Further team player features in their sponsors
brand products. Today there were questions on whether IPL is necessary or
not. Here we don’t have to conclude that. But we have to analyze the changes that
IPL brought to India. The 2015 season contributed nearly 182 million dollars
to India’s GDP. From small scale to large scale, many businesses were running because of IPL. This is definitely a good thing for economy of India. This is also a perfect entertainment for Indians. Let me tell you a story Let me tell you a story Let me tell you a story

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