The joint media rights for the next five years of the Indian Premier League (TV and Digital) have been acquired after intense bidding by two different broadcasters. They now have the rights to broadcast a total of 410 matches for a five-year cycle from 2023 to 2027. This also means that BCCI will be paid 107.5 crores for each match, which is quite unprecedented in Indian sports.
According to sources, the prices of packages A (TV rights) and B (digital rights) have been pegged at Rs 44,075 crore; TV rights were sold for Rs 23,575 crore, while digital rights were sold for Rs 20,500 crore. This puts the evaluation of each IPL matches, at a cost of over Rs 100 crore.
Earlier on Sunday, Viacom18, Disney-Star, Sony and Zee were involved in a seven-hour slugfest, which went inconclusive with Package A (India TV Rights) and Package B (India Digital Rights). ) cumulatively above 42,000 crores (about USD 5.37 billion) and still counting.
Global retail giant Amazon had earlier pulled out of the race to auction the Indian Premier League media rights, but that didn’t stop the BCCI from getting rich as Uday Shankar-led Viacom-18 went aggressive in its bid with current broadcasters Star.
back in 2017, star India Sony Pictures was kicked out to secure the media rights of the Indian Premier League for the 2017-2022 cycle with a bid of Rs 16,347.50 crore. That is, the cost of an IPL match was about 55 crores. Till Sunday, some BCCI officials were expecting the bid to reach Rs 50,000 crore.
“We were expecting great digital bids and the battle for Group A and B is still on, the magic figure of Rs 50,000 crore may well be touched. For packages C and D, an estimate can be made that if these first two packages stop at Rs 45,000 crore, another Rs 5500 crore will be added,” a BCCI official present in Mumbai told PTI.
In 2008, Sony Pictures Networks won the IPL media rights for a period of 10 years with a bid of Rs 8,200 crore. The global digital rights of the IPL for a period of three years were given to Novi Digital in 2015 for ₹302.2 crore.
This year the tournament was expanded from eight teams to ten teams, with the addition of Gujarat Titans and Lucknow Super Giants from the 2022 season. Gujarat Titans won the tournament in their first season last month.
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