IPL cricket media rights sold for $6.2 billion
The Board of Control for Cricket in India (BCCI) has announced that it has sold the broadcasting rights of the Indian Premier League (IPL) tournament to the world media for the next five seasons for Rs 6.2 billion.
Announcing the results of the 3-day online auction, Board of Control for Cricket in India (BCCI) Secretary J Shah tweeted that the IPL is now the second-highest in the world in terms of value per match. The league is valuable.
The payoff for the rights to one of the world’s most-watched sports competitions is 2.55 billion, down from what Star India paid for the last five seasons from 2017 to 2022.
The BCCI added that the US-owned Disney-owned Star retained domestic TV rights for 3.1 billion for the next five seasons from 2023 to 2027, compared to two months a year.
But digital rights sold for more than 3.0 billion, reflecting the expectation that more people in India and abroad will watch matches on digital devices.
The buyer was Viacom 18, a joint venture between Reliance, a company owned by Indian business tycoon Mukesh Ambani, and Paramount Global, a US-based investment group allegedly backed by James Murdoch.
The BCCI treasurer wrote on Twitter that this season I have become a major player and buyer of digital media TV channels.
Attracting some of the world’s leading cricket stars with huge and attractive salaries, the IPL helped to make the Twenty 20 hugely popular which attracted millions of spectators and similar cricket all over the world. Leagues also flourished.
Last season, the league included 10 franchises that competed in 74 matches. In the final of the event in Ahmedabad, 150,000 spectators watched the match at the cricket stadium while millions watched on television and smartphones. But watching the final match of the league.
Japan’s Sony was also in the running for the rights auction, which televised the event for the first 10 years after the start of the IPL in 2008.
Jeff Bezos’s Amazon, which spent millions of dollars to acquire the rights to European football and American football, reportedly initially expressed interest in the IPL but later withdrew.