The International Olympic Committee executive board on Friday granted approval for the inclusion of five sports that include cricket and flag football, in the Los Angeles 2028 Olympics. These sports now face one final hurdle to secure their spots in the Olympic Games. The LA 2028 Games organisers had earlier said that they wanted lacrosse, cricket, squash, flag football and baseball-softball added to the mega event. Cricket, a sport which is revered like a religion in India, is rapidly expanding global fan base. It is on the cusp of making an Olympic comeback now. It had made a single appearance at the 1900 Olympic Games.
The IPL mania
In 2023, the Indian Premier League generated over Rs 5,000 crore in revenue from TV and digital advertising, thanks to the deals by Disney Star and Viacom 18. It is known as the richest cricket league in the world.
Reliance secured the majority of IPL broadcasting rights for the 2023-2027 period, with a total investment of Rs 23,758 crore. Meanwhile, Disney Star acquired the TV rights for the Indian subcontinent, with a payment of Rs 23,575 crore.
The ICC World Cup 2023
India is the proud host of the 2023 ICC ODI World Cup, with matches taking place across various cities. This event is seen as a significant boost for both the formal and informal economies. The ICC Men’s Cricket World Cup, which commenced on October 5 and will conclude on November 19, is anticipated to generate a substantial $150 million (approximately Rs 1,250 crore) in sponsorship revenue.
In terms of media rights, the total viewership in India for the tournament, encompassing both television and streaming platforms, is expected to surpass the 552 million seen during the 2019 World Cup. Global giants are investing $3,600 per second in advertising during the Cricket World Cup.