Star India has bagged Indian Premier League (IPL) media rights deal for Rs 16347.50 crore. Star India has bagged the rights for next 5 years. Following an intense bidding war in Mumbai (Maharashtra), Star India bagged the IPL media rights from 2018-2022 for a whooping Rs 16347.50 crore.
What are IPL media rights?
The IPL (Indian Premier League) media rights auction has been segregated into two categories. The categories included media rights for broadcast as well as for the digital platform rights that include internet and mobile. It was expected that the bid would be able to successfully yield to the BCCI an estimated earning of over 20,000 crore. This target was aimed through the traditional bidding process.
During this bidding process, as many as seven rights were up for bidding. The bids were divided into two different platforms the television and the digital platform, for the Indian market. In addition to this, there were separate bids that were invited for other markets which included the US, Europe, Africa regions, Middle East, and the rest of the world.
How many rights were there earlier?
It was reported that prior to this, the BCCI had sold the rights only for three categories. BCCI, which owns the IPL, had sold these rights under different categories such as the India television rights, India digital rights and rights for the rest of the world. As expected, this year too, the rights were awarded to the highest bidder in each category.
Find out who were the other bidders?
Star India’s bid was the highest offer made overall. Star’s bid was a consolidated one for the global rights for IPL which is considered one of the most lucrative leagues across the globe. There were several big players that took part in the bidding game.
The bidders included Facebook, Sony, as well as Reliance Jio. All the bidders made substantial bids for the IPL media rights which include the Indian television and digital rights but the highest offer made overall bagged the overall rights.
Sony had been telecasting IPL matches since its inception in 2008 till 2017. It was reported that the company had won the rights for Rs 8200 crore.
Source: India Today