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Editor’s Note
SoumenDe Dear Friends,

Greetings from PMI Bangalore India Chapter!

 

 

Last month saw the culmination of one of the largest and most popular sporting event of the country. It is the ninth season of the IPL, a professional Twenty20 cricket league established by the Board of Control for Cricket in India (BCCI) in 2007. The tournament was played between 9th April 2016 and 29th May 2016 and 8 teams, owned by their franchisees, played for the top spot. On 29th May, the Sunrisers Hyderabad won the Final against Royal Challengers Bangalore at M. Chinnaswamy Stadium, Bangalore. This is the maiden IPL title for the Sunrisers Hyderabad franchise.

IIPL, running almost houseful for 9 years in a row is truly a success story. This is a product that is able to deliver what the market demanded, edge-of-the-seat cricket experience, where the result may not be known till the last ball is bowled. IPL provides the most entertaining form of cricket, the T20 format. The audience gets to see top national and international players in action and their Bollywood actors in the stands. Like any product that produces results year after year, the IPL is backed by both innovation and a robust business model

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The most exciting feature of this concept is that the state teams are owned by corporate houses and Bollywood celebrities. Owners are allotted teams through a bidding process and once teams are allotted, cricketers from around the world along with Indian cricketers are put to auction wherein cap for maximum amount is fixed. IPL understood and met the financial expectations for its two important stakeholders, the IPL/BCCI organizers and the franchisees. Sources of IPL gets money from: Auction of broadcasting rights, Title sponsorship and corporate sponsorship, Sale of tickets (20% allocated to IPL), Auction of franchisee rights, Official umpire sponsorship. Source of income for franchises: Share in revenue from broadcasting right, Share in the sponsorship money, Share in revenue from sale of tickets, Revenue from in-stadium advertising, Sale of players to other franchises, Revenue from own sponsorship and corporate sponsorship. The other stakeholders, the spectators, are introduced to various innovations on entertainment on ground (e.g. performances by cheerleaders, spot competitions, mesmerizing music by DJ's etc.) and on TV (e.g. fun interviews from fielding player, exotic visualization of scoring and bowling patterns) to help them enjoy and engage with the game. IPL ads and IPL theme songs tunes are always very popular with cricket lovers and they get innovative every year. We know it is one thing to start an initiative, it is quite another and often much more difficult to sustain it. IPL is a great example for us to acknowledge how a great initiative can be sustained and grown by judicious blend of innovation, stakeholder's expectation management and a robust business model.

Happy Reading.

Thanks and Best Wishes,
Soumen De, PMP
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Technology Support : Ramesh Chandra Pathak, PMP
Editorial Board
Murali Santhanam, PMP
Namita Gupta, PMP, PMI-ACP
Rama K, PMP, PMI-ACP
Shikha Vaidh, PMP, PMI-ACP
Soumen De, PMP
Sujata Sahu, PMP