Star India is the new media rights for the Indian Premier League (IPL). IPL Media Rights has been sold to Star India. The TV rights were sold for 57.5 crores and the digital rights were sold for 50 crores
The media rights auction for the Indian Premier League’s 2023-27 cycle have reportedly accumulated over 100 crore in combined digital and television price. According to reports, the value for each IPL match was highest for digital TV networks when compared with their traditional counterparts, which sends a powerful message about the shifting landscape of sports viewership.
According to a Cricbuzz news report, the overall value of India’s largest cricket property (the IPL), including all media rights, has now topped Rs. 41 billion as of now with two unnamed parties not letting go of their respective digital and data rights for the mega event.
At Rs. 54.5 crore per match, the value of the television rights have gone up to Rs. 22,345 crore i $2,200 million while at Rs. 46 crore per match, the digital bid has gone up to about $1,860 million (Rs. 18,860 crores). The combined value of the of rights so far is about $4 billion or about Rs.41,205 crores
It is still unknown if Disney had enough money to meet the cost of the bids for IPL television rights. An official announcement from BCCI is yet to be made, but it’s possible that two separate entities may have managed to obtain DD and digital rights respectively. The digital rights, it’s said, were sold at a huge price of $25 million per season, close to 50% of its base price of $33 million for a five-year worth of $20.5 million.
The television rights, which were sold for INR 57.5 crore per game went just about 17 percent more than the INR 49-crore reserve price that matched the top bid in the ongoing auction at a total of INR 23,575 crore over five years. The highest bid so far is from Star India Private Limited for an aggressive INR 16,347.50 crore for five years. In total there have been nine bids totalling INR 44,075 crore (USD 648 million) for eight IPL TV broadcasting packages. This is in stark contrast to a base price of only USD 140 million (INR 826.58) set by the previous BCCI administration in March 2018 for a 55% stake in Multi Screen Media through the first open bidding process for Indian Premier League (IPL) 2021-2022 TV broadcast rights to be conducted this month.
With the bidding for Package C paused at INR 18.75 crore, the digital value of the IPL is soaring to unexpected heights. It isn’t clear who are the competing bidders for Package C, but the digital rights winner (Package B) will have a right to challenge them and seek a rebid. The developments point to further escalation in the price of digital rights, which could very well overtake revenue made from television rights. The final auction price won’t be known until Tuesday (14 June) but all indications are that it will be around INR 50,000 crore or roughly USD 7 billion – give or take.
Star India recently won the rights to broadcast Live IPL matches till 2022 in a bid of Rs. 16,347.50 crore, inclusive of digital rights