The electronic auction has ended and, as seen yesterday, Viacom18 is the big winner for Indian Premier League cricket rights. The company won digital rights for 410 games in India over the next five years for $ 2.6 billion, and today it followed international rights for three other major cricket countries – Australia, South Africa and the UK – for around 420. Millions of dollars.
Disney, the tournament’s pre-broadcast house, holds the TV rights for $ 2023-2027, paying $ 3 billion, while Indian firm Times Internet has taken over the rights from the United States and MENA (rest of the world).
Agreements are subject to change for two main reasons. First, the combined value of the deals (around $ 6.2 billion) means that the IPL is the second most expensive sports tournament in the world in terms of match value after the NFL, outperforming the English Premier League and relinquishing the rights. . The Board of Control for Cricket in India (BCCI) is a big pay day.
Second, it forms an ultra-competitive Indian streaming market, with Viacom18, a joint venture owned by Paramount Global, Reliance Industries and Lupa Systems owned by James Murdoch, taking on a leadership role it has never had before.
Viacom18 launches Jio, a free streaming service popular with mobile phone users, and will launch Paramount + in India in 2023. It is not yet known where the IPL matches will take place or how they will be placed, but there are many opportunities for growth if they are managed. correctly.
For Disney, whose Star India subsidiary previously owned all the rights to the Indian subcontinent, losing games on the air would inevitably cost Disney + Hotstar subscribers, but save a lot of money. For context, in 2017, Disney paid less than half of this year’s total cost of digital TV and rights ($ 5.6 billion) for both sets.
Disney inherited the rights when it acquired 21st Century Fox’s entertainment assets in 2019 and used them to build India’s largest streaming service for three years.
In a statement, Rebecca Campbell, President of Content and International Operations at Disney, said: “We look forward to expanding our reach with the Indian Premier League and look forward to introducing you to the next five seasons in our portfolio. TV. We Conducted disciplined advertisements focused on long-term value. We have chosen not to pursue digital rights for the asking price to secure this package.
The IPL is an important component of our portfolio of India TV channels it provides An incredible opportunity to show us The Walt Disney The company also has strong global brands and cult stories. Disney An impressive collection of original local Star content for millions of viewers in India. “
Jay Shah, Honorary Secretary of BCCI, wrote today on Twitter: “The digital landscape has changed the way cricket is played. This was a major factor in the growth of the game. “
He added: “BCCI will use the proceeds [the] IPL will strengthen our internal cricket facility, starting at the core, improve infrastructure and develop facilities across India and enrich the cricket listening experience. “
This experience will be the key to the future of Indian streaming.
Source: Deadline
Elizabeth Cabrera is an author and journalist who writes for The Fashion Vibes. With a talent for staying up-to-date on the latest news and trends, Elizabeth is dedicated to delivering informative and engaging articles that keep readers informed on the latest developments.
