Friday, 07 October 2022

IPL TV and digital rights sold for ₹23,575 crores and ₹20,500 crores for 2023-2027 cycle

IPL TV and digital rights sold for ₹23,575 crores and ₹20,500 crores for 2023-2027 cycle

The bidding process to secure IPL media rights for the 2023-2027 cycle has ended, with the television rights being sold for a whopping ₹57.5 crore (per match) and digital for ₹50 crores (per match).

News agency ANI has reported that the final count for the TV rights stands at ₹23,575 crores while the digital rights closed at 20,500 crores. The winners' names are yet to be disclosed, but as per reports, Sony has won the TV rights, whereas, for digital, the winner is either Viacom 18 or Jio.

The value of media rights has increased more than two and a half times than Star India paid in 2017. The process was divided into four packages (A, B, C, and D). Package A is exclusive for TV (broadcast) for the Indian subcontinent, while package B is for digital-only grouping for the same region. The winner will be able to broadcast the games across the Indian sub-continent digitally.

There are four specific packages in which e-auction is being conducted or 74 games per season for five years with a provision of increasing the number of matches to 94 in the final two years. Package C is for 18 selected games in each season for digital space. In Package D, all games will be for combined TV and digital rights for overseas markets.

All bidders made separate bids for each package. Bidders for Package A must have a net worth of ₹1,000 crores; it is ₹500 crore for those bidding for other packages. The most prominent media houses in the country were fighting to earn the right to broadcast the world's richest cricket league on their platform.

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