How cricket board earn money
Cricket is a beloved sport, not only for the entertainment it provides but also for its significant role in generating revenue. Though fans primarily see cricket as a sport, it’s undeniable that big money is involved in keeping this sporting spectacle alive and kicking. Cricket boards operate like any other business entities – they rely on multiple sources of income to support players, normalize operations, maintain cricket grounds, organize high-stakes tournaments, and promote cricket development.
The role of Global Broadcast Rights
One of the primary earning methods employed by cricket boards is selling broadcasting rights. Television networks from around the world bid millions to secure these rights to televise games locally or internationally – fixtures involving countries like India, Australia, England draw colossal viewership due to massive fan bases. For example, Star India shelled out 16,347 crore INR ($2.55 billion) for securing Indian Premier League (IPL)’s global broadcasting and digital rights from 2018-2022. The Board Of Control For Cricket In India (BCCI) cited increasing popularity and market dynamics behind this steep rise in broadcast prices.
Advertising Revenue
Similarly, cricket boards make substantial sums through advertising revenues. Brands spend large amounts to put up their advertisements at stadiums during matches or commercials between overs; with these Sponsorship slots being prominent and valuable due to enormous audience engagement seen in cricket games. This added visibility turns into increased sales for those brands making it a viable investment while contributing handsomely towards the income of the board.
Digital Advertising
In recent years, Digital advertising has emerged as another potential source of revenue generation with many consumer brands venturing aggressively into online spaces exploring better targeting capabilities. Boards have tapped into this avenue via official websites or apps featuring live streaming services interspersed with targeted ads catering to an even broader demographic globally.
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Income from Stadium Tickets and Merchandising
Additional income for cricket boards comes from the sales of match tickets. Networks of stadiums across countries sell tickets ranging from diplomatic boxes to standard seats, and revenue is shared accordingly between various stakeholders depending on the agreements in place. By merchandise, we refer to an array of products like kit replicas, team jerseys, posters etc., sold primarily during series or tournaments which has a broad fan-based appeal.
Stadium commercials
There are also additional revenues derived from selling hoarding spaces inside stadiums that capture eyeballs throughout TV coverage periods.
The Way Forward: Over-the-top (OTT) Platforms
The most recent trend affecting cricket broadcasting and revenues involves ‘Over-the-Top’ services known as OTT platforms – Netflix, Amazon Prime Video being popular examples. These platforms have been bidding aggressively against traditional broadcasters since they can stream live sporting content over wireless networks circumventing conventional systems.
In turn, this enables global viewership beyond areas served by cable or satellite providers giving them a competitive edge while pouring more into cricket board coffers. However, it introduces challenges around system infrastructure needing periodic upgrades handling millions streaming simultaneously due to high service demand levels added onto overall costs too.
Cricket isn’t just about sixes hit or wickets taken; it’s a massive financial wheel that keeps turning because several components ensure its uninterrupted momentum – ticket sales to sponsorship deals, broadcasting rights to merchandising each contributing significantly to a country’s GDP not forgetting creating jobs along the way. Thus, Cricket Boards play both promoter and protector roles empowering players ensuring sustainable sporting futures.
