IPL media rights won by Star India for Rs 16347.50 crore for next 5 years : Star India bagged the IPL media rights for TV and digital broadcast worth Rs 16,347.50 crore with a single consolidated bid worldwide. It pipped Sonyto acquire the rights from 2018 to 2022.
IPL media rights won by Star India for Rs 16347.50 crore for next 5 years
IPL media rights won by Star India : Star India on Monday won the Indian Premier League (IPL) media rights for a mammoth Rs. 16347.50 crore deal for a period of 5 years from 2018-2022. In a fierce bidding in Mumbai, Star India pipped out 23 other top competing companies participating from around the world in the auction.
The IPL media rights auction, separated into two categories i.e; TV Broadcasting and Digital (internet and mobile) rights. In total it is expected to yield BCCI an estimated income of over 20,000 crores through the standard bidding process.
Bids are also invited for five other different regions – US, Europe, the Middle East, Africa and rest of the world.
Earlier, Rahul Johri the BCCI Chief Executive Officer (CEO) had said that the revenue generated from the upcoming auction of IPL media rights could be “historic”, by considering the immense interest shown by various participants & stakeholders.
According to an official statement, a total of 24 bidders bought the bidding document from BCCI, including Star India, Reliance Jio, Sony Pictures, Amazon, Facebook, Yahoo, Twitter, Discovery, Sky, ESPN Digital Media, and British Telecom.
Previously in 2008, when the IPL just started, only six companies purchased the bidding document for the auction of the first rights cycle.
All the bidders were television entities and finally, only two qualified for the bidding they are Sony-World Sports Group Alliance and Nimbus.
The present auction is for bidding of nearly seven rights. For the Indian Region, bids were divided into Television and Digital. And then there were separate bids for the Europe, US, Middle East, Africa regions, and the Rest of the World.
The rights were awarded following the traditional process of awarding to the highest bidder in each category.
The highest bid for Indian Television Rights is by Star India of Rs 16347.50 crore, hence IPL media rights won by Star India for next 5 years.
Previously in 2008, BCCI which owns the IPL, had sold the rights for only three categories. They are – Indian television rights, Indian digital rights and Rest of the World.
The 18 eligible companies & entities which bought the bidding documents last year before the process was started were: Sony Pictures Networks, Star India, Facebook Inc, Amazon Seller Services, Twitter, Reliance Jio Digital, Follow-on Interactive Media, Times Internet, ESPN Digital Media, SKY UK, Taj TV India, Supersport International, beIN, BTG Legal Services, Gulf DTH FZ LLC, GroupM Media, Econet Media, BT PLC.