The Indian Premier League (IPL) has surpassed the $20 billion mark in business value, reaching $20.6 billion in 2026, according to the latest IPL Valuation Study by Houlihan Lokey.
The report estimates that the league's business value increased 11.4% from $18.5 billion in 2025, while its brand value grew 10.3% to $4.3 billion from $3.9 billion a year earlier. It is the second consecutive year in which both metrics have recorded double-digit growth.
According to the study, the IPL's commercial momentum was reinforced by two major franchise transactions during the year. Royal Challengers Bengaluru was sold for $1.78 billion, while Rajasthan Royals was valued at $1.65 billion. The report noted that the participation of investors including Blackstone, the Aditya Birla Group, ArcelorMittal, the Serum Institute of India and David Blitzer highlights increasing institutional interest in IPL franchises.
Houlihan Lokey attributed the league's growth to its long-term media rights agreements, sponsorship revenues and salary cap structure, which continues to support franchise profitability. The report also pointed to rising interest from private equity investors in the US and Europe, reflecting confidence in the IPL's commercial model.
The study further noted that India's media and entertainment industry reached ₹2.78 trillion (around $32 billion) in 2025, with digital overtaking television as the country's largest media segment. Sports revenues also hit a record high, led by cricket, with the IPL remaining the sector's biggest growth driver.
The report highlighted the league's steady valuation growth over the past four years. IPL business value has risen from $15.4 billion in 2023 to $16.4 billion in 2024, $18.5 billion in 2025 and $20.6 billion in 2026. During the same period, its brand value has increased by more than $1.1 billion.
According to Houlihan Lokey, the continued expansion has been driven by growing digital consumption, increasing OTT adoption, stronger commercial partnerships and the wider IPL ecosystem, including the Women's Premier League, new franchises and overseas leagues.
