The Indian Premier League's monetary value has declined for a second year straight. This comes after the consolidation of media rights under JioStar effectively
concluded the bidding war as well as the real-money ban on online gaming was hit with an INR 2000 crore jolt.
The valuation of the Women’s Premier League also fell by 5.6% to INR 1,275 crore in 2025. As per a report by consulting firm D&P Advisory, IPL's value declined by 8% to land up on INR 76,100 crore in 2025. According to the same report, the cash-rich tournament had reached INR 92,500 in 2023 at its peak.
Reliance Industries Ltd, owned by Mukesh Ambani, and Walt Disney combined their Indian media assets to form JioStar in 2024. This action, in turn, decreased competition in terms of bidding for IPL's broadcast and rights for streaming.
Author of the report Santosh N disclosed how the probable failure of the Sony and Zee merger decreased competition and hence had an impact on the valuation. He also admitted that the valuation in 2021 was at an all-time high.
“Two or three things could define the next renewal cycle of media rights. One is how severe the competition is. In 2017, there was a fight between Sony, Star, and Zee. It was a multi-horse race, and there was a significant jump in media right values," Santosh was quoted as saying by Mint.
"There was an intense battle in 2021 between two players, and the number broke all records. The potential failure of the Sony and Zee merger also contributed to the less competitive environment. If Sony and Zee merger had gone through, they would have been a formidable competitor. But on their own, they may not be serious contenders.
“We might see new kinds of bidders in 2027, maybe from Big Tech firms. There will be growth, but there may be downward pressure. We have tweaked the forecast for the growth in media rights value to 15-20% from much higher," he added.
Meanwhile, the Promotion and Regulation of Online Gaming Act, 2025 has put a ban on all real-money gaming citing reasons of addiction, money laundering and financial fraud, and has come as significant blow to IPL ecosystem, wiping out at least INR 1500 to 2000 crore in advertising and sponsorship segment. This formed a large gap across franchise partnerships, broadcaster revenues and fan-engagement activations.
“I don't think BCCI (Board of Control for Cricket in India) would struggle to replace real money gaming advertisers in terms of numbers. The RMG companies were contributing to keeping engagement for IPL high, and they were getting conversions from IPL advertising," said Santosh.
