The Evolution of Cricket As a Global Powerhouse

The Evolution of Cricket As a Global Powerhouse 18 Nov 2023

The Evolution of Cricket As a Global Powerhouse

Context:

  • Cricket has transformed over the years into a powerful force that impacts the global economy. 

Cricket Revenue Model 

  • Sponsors and Broadcasting Rights: Primary revenue sources are through sponsorships and broadcasting rights.
  • Revenue Sharing Mechanism: The funds generated are shared through the revenue-sharing mechanism utilized by cricket boards, with the BCCI being a dominant factor.
  • BCCI’s Financial Dominance: The BCCI currently holds 22.9% of the total revenue of the ICC. Analysts predict that this percentage may rise to 38.5% in the future.

The Anatomy of Profitability

  • Hotels: Hotels experience a surge in bookings during mega cricket events, and many renowned establishments like the Hyatt Regency capitalize on this anticipated demand.
  • Airlines: Airlines witness increased demand for flights from host cities during major cricket events, which results in increased profitability.
  • TV Sales: TV sales soar during cricket events, with consumers investing in bigger screens for an enhanced viewing experience.
  • Tourism: Tourism receives an enormous boost from hosting cricket events, which not only contributes to economic growth but also creates job opportunities.

Conclusion:

The evolution of cricket into a global powerhouse, driven by robust revenue models, particularly through sponsors and broadcasting rights, coupled with the financial dominance of entities like the BCCI, has not only transformed the sport but also ignited a ripple effect across industries, fueling economic growth, profitability, and job creation worldwide.

 

Prelims Question (2021)

Consider the following statements in respect of the ICC World Test Championship:

1. The finalists were decided by the number of matches they won.

2. New Zealand was ranked ahead of England because it won more matches than England.

Which of the above statements is/are correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Ans: (d)

 

Mains Question: Evaluate the economic impact of mega cricket events on various industries, including hospitality, aviation, electronics, and tourism. How do these events contribute to economic growth? (10 marks | 150 words)

 

Archive Calendar

Mon Tue Wed Thu Fri Sat Sun
 123
45678910
11121314151617
18192021222324
25262728293031

Need help preparing for UPSC or State PSCs?

Connect with our experts to get free counselling & start preparing

Know about Physics Wallah

Physics Wallah is an Indian online education platform, that provides accessible & comprehensive learning experiences to students of classes 6 to 12 and those preparing for JEE and NEET exams. We also provide extensive NCERT solutions, sample papers, NEET, JEE Mains, BITSAT previous year papers, which makes us a one-stop solution for all resources. Physics Wallah also caters to over 3.5 million registered students and over 78 lakh+ Youtube subscribers with 4.8 rating on its app.

We Stand Out because

We successfully provide students with intensive courses by India's qualified & experienced faculties. PW strives to make the learning experience comprehensive and accessible for students of all sections of society. We believe in empowering every single student who couldn't dream of a good career in engineering and medical field earlier.

Our Key Focus Areas

Physics Wallah’s main focus is to create accessible learning experiences for students all over India. With courses like Lakshya, Udaan, Arjuna & many others, we have been able to provide a ready solution for lakhs of aspirants. From providing Chemistry, Maths, Physics formulae to giving e-books of eminent authors, PW aims to provide reliable solutions for student prep.

What Makes Us Different

Physics Wallah strives to develop a comprehensive pedagogical structure for students, where they get a state-of-the-art learning experience with study material and resources. Apart from catering students preparing for JEE Mains and NEET, PW also provides study material for each state board like Uttar Pradesh, Bihar, and others.

Aiming for UPSC?

Download Our App

# #
Quick Revise Now !
AVAILABLE FOR DOWNLOAD SOON
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध
Quick Revise Now !
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध

<div class="new-fform">






    </div>

    Subscribe our Newsletter
    Sign up now for our exclusive newsletter and be the first to know about our latest Initiatives, Quality Content, and much more.
    *Promise! We won't spam you.
    Yes! I want to Subscribe.