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MUMBAI : The media rights auction for the world's richest cricket league, which has media giants like Disney and Sony Corp vying for broadcast rights that could fetch India's cricket board upwards of $6 billion, has spilled over into the third day, a board official said on Monday.
Indian Premier League (IPL) media rights value for the 2023-2027 cycle has gone up to Rs 43,255 crore on Monday and the value could go even higher in the ongoing e-auctions as per sources in BCCI. LIVE UPDATES: IPL MEDIA RIGHTS AUCTIONAccording to the latest information with ANI, Package A is currently at Rs 23,575 crore, which is Rs 57 crore per match and Package B of Digital Rights for India is at Rs 19,680 crore, which is Rs 48 crore per match. The details of who bid what are yet to come but the value for per match TV, digital rights value surpassed Rs 105-crore mark.
The media rights for the lucrative Indian Premier League (IPL) for the next five-year cycle from 2023 to 2027 is currently being hotly contested by some of the country's top sports broadcasters. According to sources, the Package A and B of the right, which includes TV and Digital, has been sold for a humungous amount of Rs 43,050 crore. This puts the valuation of each IPL match, at a cost of above Rs 100 crore, something that is unheard of in Indian sports.
IPL's media rights for the next five-year cycle (2023-27) concluded on Sunday, it was clear BCCI was in for one of the biggest media rights bonanzas in the world of sports. The day saw the cricket board pocket Rs 43,050 crore (around $5. 5 billion)-a Rs 26,050-crore ($3. 3 billion) hike from the previous rights cycle-taking IPL's per match value at over Rs 104 crore ($13. 4 million) past English Premier League's corresponding figure of $11 million. Thus, IPL is now only the second after the US's NFL ($17 million) in terms of per match value; it is already ahead of other top leagues in the world like NBA and MLB. Day Two of the e-auction is set to throw up bigger numbers. 'Insane bidding' gives IPL more financial muscleThe much-anticipated bidding for the rights began at 11 am on Sunday with four of the seven bidders in the fray - the Viacom-led JV, Disney+Hotstar, Culver Max Entertainment (earlier, Sony Pictures) and the Zee Group - jumping into the process right away for Packages A & B. Package A is for India's television rights alone, with the base price set at Rs 49 crore. Package B is for India's digital rights with the base price set at Rs 33 crore.
Indian Premier League's media rights auction witnessed a robust bidding for TV and Digital rights of the Indian sub-continent with the valuation of per match of the cash-rich league being earmarked at more than a whopping Rs 100 crore. With the bidding going into the second day, the cumulative valuation of the media rights could well touch a staggering Rs 50,000 crore mark, which will be one of the biggest in terms of global rights across any sport. Four out of the seven players in the fray --- Viacom18, Disney-Star, Sony and Zee were involved in a near seven hour slugfest that remained inconclusive with Package A (India TV Rights) and Package B (India Digital Rights) cumulatively fetching upwards of 42,000 crore ($5.37 billion approximately) and still counting.
Indian Premier League's media rights auction witnessed a robust bidding for TV and Digital rights of the Indian sub-continent with the valuation of per match of the cash-rich league being earmarked at more than a whopping Rs 100 crore. With the bidding going into the second day, the cumulative valuation of the media rights could well touch a staggering Rs 50,000 crore mark, which will be one of the biggest in terms of global rights across any sport. Four out of the seven players in the fray --- Viacom18, Disney-Star, Sony and Zee were involved in a near seven hour slugfest that remained inconclusive with Package A (India TV Rights) and Package B (India Digital Rights) cumulatively fetching upwards of 42,000 crore ($5.37 billion approximately) and still counting.
MUMBAI/NEW DELHI :The bidding war for media rights to the Indian Premier League (IPL) will continue on Monday with Disney, Sony and India's Reliance in contention for what could fetch the Indian cricket board up to $6 billion.
IPL media rights value for the 2023-2027 cycle has gone past Rs 42,000 crore and is expected to go even higher as per sources in BCCI. This is nearly three times more than what Star India paid in the year 2017. The details of who bid what are yet to come but the value for per match TV, and digital rights value have surpassed Rs 100 crore mark. The process has been divided into a total of 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.