The International Cricket Council (ICC) has reported a net surplus of $474 million for the financial year ending December 31, 2024. This impressive figure was primarily fueled by the massive commercial success of the ICC Men’s T20 World Cup, co-hosted by the USA and West Indies, and marks another milestone in the governing body’s increasing profitability.
A Record-Breaking Year for the T20 Format
Despite a slight decline from 2023’s surplus of $596 million — which was largely powered by the ICC Men’s Cricket World Cup in India — the 2024 T20 edition generated $691 million, confirming the T20 format’s global draw and growing resonance in new markets.
With a television audience reach of 404 million, the tournament overcame logistical and timing challenges to become one of the most-watched cricket events globally. India’s thrilling win over South Africa in the final ended an 11-year ICC trophy drought, adding narrative firepower to an already commercially dominant event.
Global Revenue Snapshot
- Total event revenue (2024): $728 million
- T20 Men’s World Cup share: $691 million
- Women’s T20 (UAE): $18 million
- U19 Men’s World Cup (South Africa): $17 million
In comparison, the 2023 revenue stood at $839 million, driven by the Men’s Cricket World Cup in India, which generated $719 million alone.
Strategic Media Partnerships: India at the Core
The ICC’s $3 billion media rights deal with JioStar (formerly Star India) continues to be its financial backbone, with India contributing nearly 75% of total media rights value. Other key markets include:
- UK: Sky Sports
- Africa: SuperSport
- USA & Canada: Willow
- Australia: Prime Video
This centralized, India-focused revenue model has prompted a financial structure where the Board of Control for Cricket in India (BCCI) is expected to earn $230 million per year — nearly 38% of the ICC’s estimated $600 million annual revenue.
Cost Discipline & Fiscal Highlights
- Total costs (2024): $231 million
- Men’s T20: $159 million
- Women’s T20: $43 million
- Cash reserves (2024): $132 million (stable YoY)
In contrast, 2023 saw expenses of $246 million, with $147 million allocated to the Cricket World Cup.
The introduction of a Strategic Investment Fund and Contingency Allocation reflects the ICC’s evolving financial planning to support future commercial resilience and innovation.
What This Means for Federations, Broadcasters & Investors?
- T20 is the Commercial Flagship: Short-format cricket is no longer just a fan favourite; it’s a strategic vehicle for market penetration, especially in new geographies like the United States.
- India is the Epicentre: With 75% of global cricket media revenue flowing from India, every stakeholder — from broadcasters to sponsors — must tailor their strategy around this axis.
- Media Rights ≠ Linear Returns: Multi-market diversification is critical. The ICC’s success comes from an efficient balance of top-tier deals and a growing digital footprint.
- Women’s Cricket & Youth Tournaments Hold Untapped Value: $18M from the Women’s T20 and $17M from the U19 Men’s event show modest but promising numbers. Strategic promotion and better storytelling could unlock more.
- Cash Reserves = Strategic Firepower: With over $130M in reserves and surplus-driven liquidity, the ICC has the bandwidth to accelerate its digital strategy, invest in grassroots growth, and support associate nations.
How 365247 Can Help
At 365247 Consultancy, we help sports federations, investors, and broadcasters:
- Evaluate ROI across cricket’s growing global formats
- Unlock cross-market activation strategies
- Design financial models aligned with media-rights dominance
- Leverage emerging opportunities in women’s cricket and youth tournaments
- Navigate the India-centric commercial landscape with precision
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IMAGE: AP
