Amid stiff competition to grab the media rights of the money-making Indian Premier League (IPL), there are reports that one of the big players, Amazon.com Inc., is planning to exit, leaving giants like Vault. Disney Company and Mukesh Ambani’s Reliance Industries Ltd. to bid for streaming rights to one of the world’s most lucrative leagues.
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control board for Cricket In India (BCCI) is expecting windfall from broadcast and streaming rights deal with several networks like Sony Play The networks, including global giants Disney Star Network, Reliance-Viacom18 and Amazon, among others, are in the fray to grab the rights for the 2023-2027 cycle.
Reports have suggested that BCCI could earn almost three times the amount earned for the 2018-2022 cycle, when Star India bought media rights worth over Rs 16,347 crore. Prior to Star India, Sony Pictures Networks held media rights amounting to Rs 8,200 crore for a decade.
Media reports on Friday suggested that the US giant, Amazon, was planning an exit from fierce competition. The report, quoting a source on condition of anonymity, said that Amazon had already invested USD six billion in the country, and that there was no big business sense to spend more for the online streaming rights of the IPL. .
Amazon is reportedly planning an exit, with three major players — Reliance, Disney and Sony Group Corp — keen to acquire the steaming rights, given that it will give them a huge boost in the online consumer market. Whoever wins the deal will also see a huge boost in their aspirations to become a major media player in India.
Amazon was previously reported to be very eager to acquire it IPL assets in its portfolio, given that the retail giant had spent a lot on European football rights and was looking to expand into the Indian sports market.
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BCCI’s revenue from IPL media and streaming rights had increased manifold since the league came into existence. Although it nearly doubled in 2018 when Star India took over the media rights, the BCCI now expects the amount to triple in the 2023-27 cycle. Reports say it could be in the range of Rs 40,000 to Rs 45,000 crore, probably more.
A top BCCI official recently said that “Indian cricket is set to harvest a bumper from the new cycle of IPL rights sales. Don’t be surprised if it reaches Rs 40,000 to Rs 45,000 crore. Let the magic unfold.” Wait for it.”
The potential windfall gains is that IPL franchise Chennai Super Kings (CSK) has become the first sports unicorn in the country with a market cap to touch an all-time high of Rs 7,600 crore and trade in gray market trading in the Rs 210-225 price band. share is. ,
Two major reasons for the high share price of the India Cements-owned franchise were the recent addition of two new franchises to the IPL at record prices, and the expected financial gain from the sale of media rights to the BCCI.
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