The internet rights to broadcast the IPL from 2023 onwards have reportedly been purchased by Viacom 18 for Rs 20,500 crore, know what digital media rights means
According to sources, the IPL media rights for TV and digital were sold for Rs 107.5 crore, bringing the total to Rs 44,075 crore. From 2023 to 2027, the IPL will be broadcast by two different broadcasters; the BCCI would be paid 107 crores every match.
Surprisingly, each of these groups had reserve prices of 49 crores and 33 crores, respectively. This is more than double the amount paid by Star in 2017, which was INR 16,347.5 crore ($54.5 crore per match) for 60 matches per year.
IPL Digital And TV Media Rights Means What After 2023 To 2027 Rights Are Sold To Winner Viacom 18 And Star
As previously reported, the second day saw little active bidding, with only one more proposal for TV rights coming in, and no bids for the digital package, which Viacom-18 had already obtained for 49 crores per match on Sunday.
Nonetheless, the Reliance-backed media conglomerate’s bid was contested, and Star responded with a new bid for Rs 50 crore, which was enough to seal the acquisition.
The sale for Package C (non-exclusive India digital rights) began on Monday evening and will end at 11 a.m. IST on Tuesday, followed by the auction for Package D. (Rest of the World). The most recent bid for Package C was $18.5 million per match, with a base price of $16 million.
Viacom 18 also wants to buy Package C, according to sources, in order to prevent advertising revenue leakage.
- The second package includes the digital rights for the property in India and the base price is set at Rs 12,200 crore and the high valuation of digital rights is indicative of the growing popularity of the digital mediums and how people’s consumption patterns are fast undergoing a change.
- The third bucket contains the rights for 18 games, including the opener and the four Play-off matches and is applicable only to streaming services with one single platform given the option of picking up this bundle. The base price for this bucket has been set at Rs 1,440 crore.
- The fourth bundle is the overseas TV and digital rights.
The owners are given a secret code via which they bid according to the e-auction rules. The code of the bidding businesses is unknown to any BCCI office-bearers or employees.
Package D, which has a base value of Rs 3 crore for global TV and digital rights, will face stiff competition from Zee, which is led by former BCCI CEO Rahul Johri during the auction.