The cash-rich Indian Premier League (IPL) media rights for the next five-year cycle from 2023 to 2027 were fiercely contested by a few of the nation’s major sports broadcasters.
According to sources in the ongoing e-auctions, the IPL media rights for the upcoming five years were sold for a whopping INR 44,075 crore for 410 matches.
According to ANI, Package A (TV rights) is sold for INR 23,575 crore and Package B (digital rights) is sold for INR 20,500 crore.
On Day 2 of the IPL media rights e-auction, the Reliance-backed Viacom18 won the digital rights after a two-hour battle.
On the other hand, a major broadcaster won Package A for INR 57.5 crore per game, while Viacom18 claimed Package B for INR 50 crore per game. The total estimated value is INR 107.50 crore per match.
Two different companies have won the bid for IPL media rights. The value of media rights has increased more than two and a half times over what Star India paid in 2017.
Star India held the IPL rights (TV and digital) for the 2018-22 cycle, the broadcasting unit acquired it in September 2017 for INR 16,347.50 crore.
Before Star India, Sony Sports Network paid INR 8,200 crore for the IPL TV media rights for a 10-year period at the competition’s inception.