The wealth for Indian Cricket just got increased by Rs. 16,347 Cr. IPL’s Media Rights auction was hosted by the BCCI in Mumbai. After a couple of rounds in discussions between the board members, Star India came out as a winner of the sole rights worldwide for T20 over the next five years to come.
Now the BCCI will earn up to Rs. 55 Cr. in each IPL match, while Rs. 43 Cr. for each international match played by India.
How Star India Came Out as Winner?
IPL media rights have been sold in 7 categories – digital rights for Indian subcontinent, TV rights for Indian subcontinent, both digital and TV rights for Europe, USA, Africa, and Middle East regions and other parts of the world. Bidders were able to send both separate bids each of 7 categories as well as consolidated bid for all of these categories at the same time. Star India did a consolidated bidding of Rs. 16347.50 Cr. and it came out on top.
Bidders like Sony were emerged as the individual bid winners for different categories. However, when these bids were consolidated together, the total amount added up to around Rs. 15,819 Cr. for the BCCI. Instead, the cricket control board decided to go with larger figure, i.e. Rs. 16,347 Cr. from Star India for all the seven categories combined.
As a result, Star India will have complete rights for any IPL transmission for the next five years to come, both in India and abroad, on the web and on TV.
Who was the Bidder of What?
When Star India just walked out with all the IPL transmission rights in Mumbai, around 13 more bidders participated with big offerings in the individual categories. Companies, such as Sony (the company which held broadcast rights of IPL), Reliance Jio, Amazon, Facebook, and Yahoo offered huge amounts to win the auction. Facebook also made a winning bid for itself of Rs. 3900 Cr. for the IPL’s digital rights, outperforming Airtel and Reliance Jio with Rs. 3280 Cr. and Rs. 3075.72 cr. respectively.
However, the biggest fight was about the broadcast rights of the tournament, where Sony topped the bid of Rs. 11,050 Cr. and Star India with proposal of only Rs. 6,196 Cr. The IPL rights for TV would have retained with Sony if other winners of 6 categories accounted for the next Rs. 1000 Cr. more.