Mumbai, Aug 31 (SocialNews.XYZ) Viacom 18 Media Private Limited has bagged the BCCI's TV and digital media rights for the next five years for a cumulative figure of INR 5,963 crore. Viacom18 beat competition from Sony Sports Network and Disney Star in an e-auction conducted by the BCCI on Thursday.
As per the new deal which has 88 international matches, Viacom18 is estimated to be paying INR 67.75 crore per game to the BCCI, which is said to be 12.91% higher than the INR 60 crore Disney Star had paid in the 2018-23 cycle.
Viacom18, a joint venture between the Reliance Industry-owned Network 18 Group and Paramount Global, has taken the BCCI bilateral media rights from Disney Star, who had won the television and digital rights for the 2018-23 cycle for INR 6138 crore. Disney Star also won the rights to the 2012-18 cycle of broadcasting Indian cricket in the country for INR 3851 crore.
“The recent BCCI e-auction has unequivocally demonstrated the vigour of cricket in India. The remarkable journey of Indian cricket, its meteoric rise in the global sporting arena, owes its success to the unwavering trust that people have vested in the BCCI leadership and its dedicated workforce.”
“With the staunch support and collaboration of every stakeholder within our cricketing ecosystem, I am confident that we will continue to propel the brand BCCI to uncharted territories on the global sports stage," said Roger Binny, BCCI President.
Viacom18, a relative newcomer in the cricket broadcasting world through its TV channel Sports18 and digital platform Jio Cinema, is also the holder of TV and digital rights of the Women’s Premier League (WPL) for INR 951 crore till 2027.
It also has the digital rights of the 2023-27 IPL cycle for INR 23,758 crore, as well as the Australia, South Africa and United Kingdom broadcast rights. Viacom18 also has the Cricket South Africa matches rights to be broadcasted in India from 2024-31.
"It fills me with immense joy and a profound sense of pride to witness the remarkable growth of the brand BCCI. Today's e-auction has propelled BCCI into the upper echelons of per-match media rights valuation, marking a monumental stride in our journey. Throughout this process, we have steadfastly upheld the principles of transparency and fairness, ensuring that all stakeholders are treated equitably."
"I extend my heartfelt congratulations to Viacom18 for emerging successful in the e-auction, and I express my sincere gratitude to all the bidders who participated in this process. Their involvement underscores the industry's confidence in Indian cricket. I also want to acknowledge the role of market forces in reinforcing their belief and trust in us."
"Our underlying goal remains to strike a harmonious equilibrium between cricket and commercial interests. BCCI remains deeply committed to nurturing sports development in India through the medium of cricket."
"The revenue generated from media rights is an essential catalyst for nurturing grassroots cricket across the nation—a cause that resonates deeply with us. It's the legacy we leave behind and the positive impact we create in our country's cricketing ecosystem that truly matters," said Jay Shah, Honorary Secretary, BCCI.
The BCCI had opted for an e-auction for the bilateral media rights, with a base price of INR 25 crore for India digital + rest of world TV & digital rights and INR 20 crore for India television rights, continuing the trend from IPL media rights auction.
It brought the combined rights value to INR 45 crore per game for a total of 88 matches for the 2023-28 cycle. Viacom18’s cycle of showing India’s matches will begin with the three-match ODI series against Australia from September 22-27, a preparatory series before the Men’s ODI World Cup.
"We extend our heartfelt congratulations to the BCCI for a transparent and efficient e-bidding process and to the winners for securing the bilateral media rights. Our disciplined bid was grounded in market forecasts and a long-term growth strategy."
"We remain committed to delivering top-tier sporting entertainment as we continue to see growing enthusiasm across various sports genres," said NP Singh, MD & CEO, Sony Pictures Networks India.
Source: IANS
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