Mumbai, June 14 (SocialNews.XYZ) Disney-Star retained the TV media rights while Viacom18 won the digital property of the Indian Premier League's 2023-27 cycle for the Indian subcontinent as Board of Control for Cricket in India (BCCI) earned Rs 48,390 crore, board secretary Jay Shah announced on Tuesday.
In a first of its kind e-auction conducted by the BCCI for three days, Star's winning bid TV rights (Package A) was worth Rs 23,575 crore (Rs 57.5 crore per match) whereas Viacom18 shelled out Rs 23,758 crore to claim Packages B & C for digital rights exclusively. Viacom 18 also got the rights for Australia, South Africa, UK regions in Package D while Times Internet got the MENA and US.
Overall, the figure of Rs 48,390 crore, an unprecedented number in Indian sports broadcast industry, is nearly three times the price (Rs 16,347.50 crore) at which BCCI sold the media rights for the previous cycle (2018-22) in 2017, highlighting the value of the brand IPL that has exceeded expectations in terms of its growth.
The auction also underlined India's growing digital economy and the potential of its markets, with Viacom18's bid fetching the IPL a higher sum than the TV's winning bid.
After the end of e-auction, BCCI secretary informed about the winners of different packages and the respective amount for bagging the rights.
"Since its inception, the IPL has been synonymous with growth & today is a red-letter day for India Cricket, with Brand IPL touching a new high with e-auction resulting in INR 48,390 cr value. IPL is now the 2nd most valued sporting league in the world in terms of per match value!," said Shah in his tweet.
"I am thrilled to announce that STAR INDIA wins India TV rights with their bid of Rs 23,575 crore. The bid is a direct testimony to the BCCI's organizational capabilities despite two pandemic years.
"Viacom18 bags digital rights with its winning bid of Rs 23,758 cr. India has seen a digital revolution & the sector has endless potential. The digital landscape has changed the way cricket is watched. It has been a big factor in the growth of the game & the Digital India vision," he added.
The 33-year old Shah also thanked all the bidders for showing interest in securing the IPL media rights, adding that the board will utilise the revenue generated from the cash-rich league to strengthen our domestic cricket structure
"I thank all the bidders for their active interest in securing the IPL Media Rights. As a key stakeholder, the BCCI will do everything possible to help you realise the full value of your investments," he said.
"The BCCI will utilize the revenue generated from IPL to strengthen our domestic cricket structure starting from grassroots, to boost infrastructure and spruce up facilities across India and enrich the overall cricket-watching experience.
"Now, it's time for our state associations, IPL Franchises to work together with the IPL to enhance the fan experience and ensure that our biggest stakeholder 'the cricket fan' is well looked after and enjoys high quality cricket in world-class facilities," he added.
Notably, for the first time, the BCCI had split the IPL's TV and digital rights, offering the bidders four packages: (A) India sub-continent television, (B) India sub-continent digital, (C) India digital non-exclusive special package and (D) Rest of the world.
The auction started at 1100 hrs on June 12 with Package A and B rolled out up front. The bidding commenced from the base price of Rs 49 crore for the TV rights and Rs 33 crore for the digital rights and the parties had up to 30 minutes between the bids. The bidders quoted a figure on a per-match basis, with the minimum bid increment (MBI) value being fixed at Rs 50 lakh.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz