Star India wins IPL rights and Viacom18 bags digital rights

Star India has acquired IPL’s TV rights for the next five years (2023-2027) for a record whopping 23,575 crore, while reliance-led Viacom18 bagged the digital rights for 23,758 crore.

The two deals combined are more than double the $2.4bn Star paid for the previous five seasons of the IPL. The figures put the IPL among the highest-ranked sport leagues alongside the NFL in the US and the English Premier League in cost-per-match terms.

The winning bid for the TV rights – a period that incorporates 410 IPL matches – were sold for about $7.36m per game.The digital streaming rights from 2023 for the annual two-month competition were sold for $6.4m per match.

Before the auction, the IPL’s per-game value for the next cycle would trump the English Premier League and make it the No. 2 sports league in the world behind the National Football League (NFL). At $15.1 million per game (converted to US dollars), the IPL comfortably leapt past the Premier League, where the broadcasters pay around $11 million per match. Shah called it a β€œred-letter day for Indian cricket”.

This time, the IPL media rights value saw a three-fold increase with digital turning out to be the key component. After setting the combined base price at Rs 32,890 crore, the BCCI expected a windfall in excess of Rs 45,000 crore β€” and it wasn’t off the mark. Doing away with composite bids, with an eye on higher bids in the digital segment, marked the highlight of its business strategy.

“The fact that digital rights value was higher than television showcases the scale and future potential of streaming in India”, Mihir Shah, vice president of Media Partners Asia, told the BBC.

Jay Shah, secretary of the Board of Control for Cricket in India, said the revenue generated from the IPL helps grassroots cricket in the country by funding infrastructure improvements and facilities. “Now, it’s time for our state associations, IPL franchises to work together with the IPL to enhance the fan experience and ensure that our biggest stakeholder – the cricket fan – is well looked after,” he added.

IPL is one of the world’s most watched sporting events , the IPL attracts the game’s best cricketers who are attracted by lucrative contracts.

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