IPL Media Rights: TV & Digital Rights sold for a whopping Rs 43,050 Crore

0
7
buaksib

IPL Media Rights: TV & Digital Rights sold for a whopping Rs 43,050 Crore

The media rights value for the IPL 2023-2027 cycle is touching new heights with India’s top companies being indulged in a fierce battle of bidding. According to the sources, Package A and B of the right, which include TV and Digital, have been sold for a humungous amount of Rs 43,050 crore.

The IPL media rights for Package A & package B have been won by two big companies. And as per the latest information the winner of package A is about to challenge the winner of Package B, with an eye on getting the entire TV and Digital rights combo. Earlier the e-commerce giant Amazon had pulled out of the IPL media rights auction as reported by NDTV Sports on Friday.

The valuation of each IPL match is INR 105 crore (USD 13.44 million) which makes it the second most valuable sporting product, behind the NFL whose per match value is 35.07 million. The media rights offered for a period of five years will have 74 matches per season. However, as reported earlier by Cricketflicker, the BCCI are planning to increase the number of games to 410 with a progressive increase after every two seasons.

For the IPL 2023-2027 cycle, the combined sum bid for Package A & B was fixed at INR 38,850 crore (USD 4.97 billion) – that is INR 21,090 crore (USD 2.7 billion) for Package A (TV rights for India sub-continent) and INR 17,760 crore (USD 2.27 billion) for Package B (digital for India subcontinent) which is already 2.38 times higher than the 2018-22 IPL rights deal, bagged by Star India in 2017 for $2.5 Billion.

Back in 2017, the IPL Media Rights for the 2017-2022 cycle was won by Star India who had outclassed Sony Pictures in the bidding war with the highest bid of 16,347.50 crores. With this deal, the cost of an IPL match was ranked at Rs 55 crores. 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 crores.

For all the latest updates on IPL Media rights stay tuned to Cricketflicker.com

buaksib
buaksib
buaksib

LEAVE A REPLY

Please enter your comment!
Please enter your name here