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A premium ticket for the Royal Challengers Bengaluru (RCB) versus Punjab Kings match in IPL 2024 on March 25 in Bengaluru was reportedly sold for a whopping Rs 52,938.
For the price of watching Virat Kohli from the corporate box at the M Chinnaswamy stadium, viewers can fly to Turkey for a holiday at a much cheaper price.
With a massive popularity and superstar status of iconic cricketers, the ongoing IPL (Indian Premier League) 2024 is witnessing a rise in ticket prices at some venues.
A report in the Indian Express (IE) said IPL ticket prices vary based on venue, timing, teams, and player brand value. For instance, the cheapest ticket at the M A Chidambaram Stadium in Chennai is Rs 1,700, and the most expensive sells at Rs 6,000. A ticket costs between Rs 2,000 and Rs 5,000 at the Arun Jaitley Stadium in Delhi. It costs between Rs 750 and Rs 9000 at Mullanpur, the new home ground of the Punjab Kings franchise.
Tickets at the Arun Jaitley Stadium in Delhi are priced between Rs 2,000 and Rs 5,000, while at the Maharaja Yadavindra Singh Cricket Stadium in Mullanpur, the Punjab Kings' (PBKS) new home ground, they range from Rs 750 to Rs 9,000, IE reported.
According to a PBKS official, there's a significant connection between the venue and the price spectators are prepared to pay to attend an IPL match. “If you are playing in Mumbai, the same ticket price can be Rs 5,000, but in Chandigarh, it could be just Rs 1,000. Pricing is decided as per demand and supply, affordability, culture, and the eagerness of the people to pay. A fan in Mumbai will be ready to pay Rs 5,000 to watch a game, but in Mohali, a fan won’t be interested in investing that much.”
Rajan Manchanda, secretary of Delhi and District Cricket Association (DDCA), the Board of Control for Cricket in India (BCCI) gives all franchises the freedom to set the prices at their home venue.
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The IE quoted Manchanda as saying, “They [franchises] do the pricing by themselves. We provide them with the infrastructure and our job is to fulfill their requirements. We don’t engage in the pricing of tickets.”
Manchanda further said that the star power of a cricketer and the brand reputation of a franchise also factor significantly into the ticket pricing decisions at specific venues. He said, “If MS Dhoni, Virat Kohli or Rohit Sharma are playing, the prices would be higher than if Rajasthan Royals, Sunrisers Hyderabad or LSG are in the town. You know that if Dhoni or Kohli is here, it will be sold out.”
According to the IE report, Kaso Viswanathan, chief executive officer (CEO) of CSK, said that franchises are forced to adopt a dynamic model in pricing as a lot of the ticket sales go into GST and Entertainment tax. “When tickets are being sold in the black market for huge prices, which is of no use to us, we have to adjust it accordingly. So, after the stadium facilities were upgraded, the price was adjusted as per the market demand. Moreover, for each ticket, we pay 58 per cent tax (28 per cent GST and 25 per cent entertainment tax). So, the returns are minimal for us,” he said.
