Sunday, June 16, 2024

IPL TV and digital rights go for a whopping Rs 44,075 cr

The media rights for the lucrative Indian Premier League (IPL) for the next five-year cycle from 2023 to 2027 was hotly contested by some of the country’s top sports broadcasters. After intense bidding, the TV and Digital rights have been won separately by two broadcasters, NDTV has learnt from sources.

According to sources, the prices for Package A (TV rights) and B (Digital rights) have been pegged at a humungous amount of Rs 44,075 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. According to sources, the current price for each IPL match stands at Rs 107.5 crore.

Sources have confirmed that the deal is for a total of 410 matches over a 5-year period. The TV rights were sold for Rs 23,575 crore, while the digital rights have gone for a whopping Rs 20,500 crore.

Global retail giants Amazon had earlier pulled out of the Indian Premier League media rights auction race.

Star India had edged out Sony Pictures to secure the Indian Premier League’s media rights for the 2017-2022 cycle with a bid of Rs 16,347.50 crore in September 2017. With this deal, the cost of an IPL match had become around Rs 55 crore.

In 2008, Sony Pictures Network won the IPL media rights for a period of 10 years with a bid of Rs 8200 crore. The global digital rights of IPL for a period of three years were awarded to Novi Digital in 2015 for 302.2 crore.

The tournament was expanded from eight teams to ten teams this year with Gujarat Titans and Lucknow Super Giants being included from the 2022 season. Gujarat Titans went on to win the tournament in its maiden season last month.

Read More

Malviya receives apology; Congress cuts a sorry figure

NEW DELHI: The instant affront which the BJP IT Cell chief Amit Malviya took against an offending social media post, accusing him of sexual...