IPL Media Rights Generate In Rs 48390 Crore For BCCI; Star India Retains TV Deal; Viacom18 Scores Digital
The new broadcast rights contract for the 2023-27 cycle elevates the IPL to the world’s second-most valuable athletic league in terms of income collected per match. Each IPL match is worth more than Rs 114 crore (estimated), second only to the NFL. BCCI has earned a total of Rs 48,390 crore from the media rights of the Indian Premier League (IPL).
Star India won the domestic TV rights for the 2023–27 cycle of the IPL with their bid of Rs 23,575 crores, while Viacom18 got the streaming rights with its highest offer of Rs 23,758 crores. BCCI received a total of 48,390 crores from selling the IPL broadcast rights for the cycle 2023–2027. For the next five years, beginning in 2023, specific media permissions are now secured.
On Tuesday, BCCI secretary Jay Shah notified the victorious candidates after three days of feverish bidding via e-auction. Star India has won the broadcast rights for Rs. 23,575 crores, while the Viacom 18-led consortium has won the internet rights for the Indian subcontinent for Rs. 23,758 crores. Viacom 18 and Times Internet Ltd. split the balance of the globe licenses for a sum of 1,057 crores.
Mukesh Ambani’s Viacom18 Captures IPL Digital Rights
|Full-Form||Indian Premier League|
|Administrator||Board Of Control Of Cricket In India|
|Number Of Teams||10|
|Format Of Playing||Group System With Playoffs|
Viacom18 Media Pvt., a collaboration involving Paramount Global and Ambani’s Reliance Industries Ltd., received the online rights to the well-known annual cricket competition. The five-year digital pact is a significant win for Ambani’s multinational corporation, which aspires to join the exclusive club of massive global media and internet streaming companies. The IPL, known as “the Super Bowl of cricket,” is one of the quickest sports events in the world and has cult-like status in South Asia and among expatriates from the subcontinent. India, the largest consumer market in the world with about 1.4 billion people, views it as the fastest approach to increase the number of viewers and expand the viewership of any network.
- After a fierce bidding war, Mukesh Ambani’s media arm Viacom18 has secured the prized digital rights to the IPL, while Disney+ Hostar has acquired television broadcasting rights.
- The Indian Premier League has over 600 million viewers and is the world’s second-fastest-growing competitive franchise, after only the NFL.
- The BCCI has collected over 44,075 crores from the broadcast rights auction, virtually increasing the value of the IPL over the previous 5-year cycle.
Mukesh Ambani’s Viacom18 has won the internet rights to the Indian Premier League for the following cycle, 2023-2027. This should result in 600 million users per year for Ambani’s media business.
Broadcasting And Television Rights
According to a report, The media rights for the IPL could increase by three to four times to 50,000–60,000 crore for the upcoming cycle. Citing cost per match is why television rights receive the highest annual offers above digital. In India, a price-sensitive market with a low average revenue per user, it is predicted that the digital segment will at best be on par with television and won’t advance beyond it.
This is because digital, despite solid growth, has concerns about monetization and subscription video on demand. Nevertheless, a spike in media rights and an increase in the number of matches are expected to aid IPL income for clubs soar by two times, reaching between 650 and 750 crores.
The procedure was separated into four bundles (A, B, C, and D). Package A was a TV (broadcast)-only grouping for the Indian subcontinent, whereas Package B was a digital-only grouping for the same region.
There were four distinct packages for which an e-auction was held for 74 games every season over five years, with the possibility of extending the number of games to 94 in the last two years. Package C includes 18 games for each season in digital space. All games in Package D will be for combined TV and digital rights in international markets. Each parcel received a separate offer from each bidder.
Four contracts starting in 2023 were up for grabs, broadly covering television and digital rights and a selection of essential matches in the Indian subcontinent and abroad. The IPL is one of the most significant attributes in a fiercely contested OTT marketplace, where consumer wallet concentration and fragmentation are quickly becoming impossible to overcome. The BCCI is holding separate auctions for the IPL’s broadcast and streaming rights for the first time. Duff & Phelps, currently known as Kroll, estimated the value of the IPL at 458 billion rupees ($5.9 billion) in 2020. It may now be 25% higher, helped in part by adding two additional clubs that raised the number of matches in the just-finished season to 74. There are presently ten clubs in the league.
Enhanced Growth for the Franchise
Jay Shah described the event as a “red-letter day” for Indian cricket and asserted that the IPL had become the second-most lucrative sports league in the world. No cricket property has ever been sold for such a high price, share that the IPL is currently the second most valuable sports league in the world with great pleasure. The Indian Premier League (IPL) has surpassed the National Basketball Association (NBA), Major League Baseball (MLB), and the wildly successful English Premier League (EPL) in just 15 years.
The IPL will be televised by several players on television and internet channels for the first time. It is an honor seeing that a league established and comprehended in India is today the second-most profitable sports franchise. Digital media revenues are expected to rise at a quicker rate of 30% over the next five years, while TV income is expected to grow at a slower pace of 6-8 percent.
Star India acquired the domestic television rights to the IPL for the 2023-27 cycle with a bid of Rs 23,575 crores, while Viacom18 secured the digital rights with a proposal of Rs 23,758 crores. The BCCI paid 48,390 crores for the IPL media rights for the 2023-2027 season. These media rights are now reserved for a 5-year term in 2023.
Who got the IPL media rights?
● Disney Star India got the India TV rights with an offer of Rs 23,575 crores, while Viacom18 acquired the digital rights with a proposal of Rs 23,758 crores. The BCCI received INR 48,390 crore for IPL media rights during the three-day auction that began on Sunday.
Who was the winner of the IPL media rights auction?
● Star India has acquired the Indian Premier League (IPL) broadcast media rights in the e-auction procedure for the 2023-2027 cycle.
What exactly are media rights in the IPL?
● Viacom 18 acquired the digital rights to the annual Twenty20 competition for 237.58 billion Indian rupees ($3.05 billion).
What is Package C in the IPL auction?
● Package C includes rights for 98 games for five years in the non-exclusive digital category.
Who owns IPL media rights 2023?
● Viacom18, it is reliably learned, has picked up the digital rights for the 2023-27 IPL cycle, although the name of the TV rights winner was still unclear at the time of going to press.