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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.
The media rights e-auction for the Indian Premier League for the 2023 to 2027 cycle began on Sunday with sources saying that the combined bid for TV and digital right has gone past the Rs 40,000 crore-mark. There are four specific packages in which e-auction are being conducted for 74 games per season for a five-year period from 2023-2027 with a provision of increasing the number of matches to 94 in the final two years. The process has been divided into a total of four packages (A, B, C and D). The package A is exclusive for TV for the Indian subcontinent while package B is for digital only grouping for the same region.
BCCI last raised the stakes in the IPL, selling its media broadcast rights across television and digital for India and the rest of the world in excess of Rs 16,347 cr, they’re back to the auction table toup the game. Moving away from the long-held practice to call for closed bids, BCCI has opted for an e-auction for the first time ever. The e-auction began at 11am on Sunday. A total of 12 companies had picked up the Invitation To Tender (ITT) less than two months ago and seven – Viacom-led JV, Disney+Hotstar, Culver Max Entertainment earlier, Sony Pictures), Zee Group, Supersport, Times Internet and Fun Asia – have decided to come to the bidding table. These potential bidders submitted their technical bids in Mumbai on Friday and have been cleared to log-in on Sunday morning when the e-auction begins. E-commerce and digital streaming giants Amazon were also among the 12 companies to pick the ITT but, despite speculation that they would bid heavily for digital rights, have decided to stay away.
The e-auction for the media rights for the Indian Premier League (IPL) for the years 2023 to 2027 began on Sunday. There are four specific packages in which e-auction will be conducted or 74 games per season for a five-year period from 2023-2027 with a provision of increasing the number of matches to 94 in the final two years.
MUMBAI/NEW DELHI : Disney, Sony and India's Reliance will vie on Sunday for media rights to Indian Premier League (IPL), the world's richest cricket league, expected to fetch up to $6 billion.
Global media giants including Disney and Sony and Asia's richest man reportedly battled Sunday for the broadcast rights for the Indian Premier League cricket tournament, one of the world's most-watched sporting events.
The highly-awaited media rights auction for the Indian Premier League is likely to see four bidders including Viacom18, Disney Star, Zee and Sony. The successful bidders will have the rights to broadcast the matches. The e-auction for the media rights from 2023 to 2027 will be held on June 12. "Four firms have been shortlisted for bidding as they filed their final bids and soon we will reveal the name of winner. The four shortlisted are Viacom 18, Disney Star, Sony and Zee," a source told ANI.