IPL media rights auction : Star India wins rights for all markets with bid of Rs 16,347.5 crore.
Star India bagged the IPL media rights for TV and digital broadcast worth Rs 16,347.50 crore with a single consolidated bid worldwide. It pipped Sony to acquire the rights from 2018 to 2022.
With a whopping bid of Rs 16,347.5 crore. Star India claimed the Indian Premier League’s (IPL) media rights for all the markets (digital and television) for the next five years. The bid amount, worth approximately $2.5 billion dollars. Also the bid is more than twice as much as the amount that World Sports Group had bid nine years ago.
Star India was the only company to bid for Indian Premier League’s (IPL) media rights. Also for all markets in the event that took place at the Taj Mahal Palace Hotel in Mumbai. Sony Pictures Networks (SPN), who had purchased the rights from World Sports Group for a sum of $1.63 billion in 2009. And also held it till the 10th edition of the league that took place earlier this year. Sony Pictures Networks had placed a bid worth Rs 11,050 crore for the Indian subcontinent television market. However this was the highest bid in that category.
Comparing with global franchise sports leagues.
IPL vs other major sports leagues:
(Figures in billion dollars per year)
EPL (English Premier League ) media rights $13 Billion for 3 years (4.3 Billion per year).
NFL (National Football League ) media rights $27 Billion for 9 years (3 Billion per year)
NBA (National Basketball Association) media rights $24 Billion for 9 years (2.6 Billion per year)
IPL (Indian Premier League) media rights $2.5 Billion for 5 years (0.5 Billion per year)
A comparison between individual IPL and Team India International Matches.
As per the current deal between Star Sports and the BCCI, for every match the broadcaster pays.
Team India: 40 crore
IPL: 55 Crore
Star India in 2012 secured the BCCI media rights for global territories for a period of six years in a deal worth Rs 3,851 crore. The deal, which covers both internet as well as mobile coverage aside from television rights. However this is yet to expire in March 2018.
This currently makes IPL matches more valuable than the international matches played in the country. Star India now set to pay around Rs 55 crore per match according to the deal, which is a lot more than what is currently paid for an international match.
Until the 2017 edition, Sony held the broadcast rights of the IPL after it paid Rs 8,200 crore for a 10-year deal in 2008. Star India, through its wholly owned subsidiary Novi Digital Entertainment Private Limited, Moreover owned the digital rights of IPL.