How much revenue BCCI is generating from media rights of IPL and India’s home matches? Check details here
Viacom18 paid INR 5963 crore (about USD 720.60 million) for the media rights to Indian cricket around the world from 2023 to 2027. Except for the IPL, the rights cover all cricket games that the BCCI runs in the country, whether they are international or local.
In an online sale held by the BCCI on Thursday, Viacom18 beat out Disney Star and Sony. Viacom18 offered INR 3101 crore (approx. USD 374.70 million) for digital rights and INR 2862 crore (approx. USD 345.90 million) for TV rights. The bids from Disney Star and Sony are still not sure.
Viacom18's new deal means that each match is worth an average of INR 67.75 crore. This is 12.92% more than what Star India paid the BCCI in the previous cycle, which was INR 60 crore.
For the years 2018–23, Disney Star, which used to be called Star India, bought the global rights to 102 of India's international games for INR 6138 crore (then USD 944 million). This time, the BCCI put on the rights list 88 international events.
The BCCI put up for bid two types of rights: TV rights only for the Indian subcontinent (base price INR 20 crore, or about USD 2.42 million) and digital rights for the Indian subcontinent plus TV and digital rights for the rest of the world (base price INR 25 crore, or about USD 3 million).
Thursday night, BCCI secretary Jay Shah sent out a tweet about the news.
Network 18 Group, which is owned by Reliance Industry, and Paramount Global have joined forces to make Viacom18. The company already has digital rights to the IPL and both digital and TV rights to the Women's Premier League (WPL).
Last year, during the bidding for IPL media rights, Viacom18 won the digital rights in the Indian subcontinent as well as the TV and digital rights in three global regions: Australia and New Zealand, the UK, and South Africa.
They paid a huge amount of INR 23,758 crore, which was about USD 3 billion at the time, for these rights. It's important to note that Disney Star also won the sale for the TV rights to the IPL in the Indian subcontinent.
In an unexpected turn of events, Viacom18 once again did better than Disney Star by getting the world media rights for the WPL. They paid a large amount of INR 951 crore (about USD 116 million) for the years 2023 to 2027.
The IPL made a lot of progress last year, which cemented its place as one of the most important sports events in the world. It is now happy to be second in terms of per-match value, behind only the NFL.
This was possible because rights for the next five years, from 2023 to 2027, were sold for an amazing INR 48,390.5 crore (about USD 6.2 billion).
This is a big win for Viacom18, which is now the clear winner in the media rights market for Indian cricket. To take advantage of this chance, the company is likely to put a lot of money into production and marketing.
The rights to India's home games against other countries are a valuable asset, and the BCCI expects to make a lot of money from this deal. The money from the rights will be used to help cricket grow in India and other places around the world.