Bidding for IPL media rights goes past Rs 42,000 crore

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.

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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 process began on Sunday at 11 am. A total of 12 companies had picked up the Invitation To Tender (ITT) less than two months ago and seven have decided to come to the bidding

There are four specific packages in which e-auction is being conducted for 74 games per season for a five-year period with a provision of increasing the number of matches to 94 in the final two years. Package C is for 18 selected games in each season for digital space. In Package D, all games will be for combined TV and digital rights for overseas markets. All bidders are making separate bids for each package. Bidders for Package A must have a net worth of Rs 1000 crore; it is Rs 500 crore for those bidding for other packages. This year, global giants like Zee Entertainment Enterprises Limited (ZEEL), Reliance-Viacom 18, Disney Star Network and Sony Network are in the fray to grab the rights to the event.