We all know what a big business sports is in India, in particular CRICKET. It’s nothing short of a religion in India with millions of people across the country following the sport on a daily basis. Yesterday, the Board of Control for Cricket in India (BCCI) tried to identify a winner for the Indian Premier League (IPL) media rights that would apply for the 2023-27 cycle.
However after 7 hours of intense bidding between the interested parties, BCCI wasn’t able to find a winner and we were on to IPL Media Rights Auction Day 2 which began on the morning of Monday, 13th June 2022. It was great to see the fight to secure the future of sports broadcasting in India, yet to arrive at a winner of this auction.
Sony to win IPL media rights auction?
Also known as the IPL E-Auction, it became clear on Day 1 that there’s massive revenue inflows for the board through broadcasting rights. It also became very evident that the game for the next few years will be digital streaming. Disney Star (and Disney+ Hotstar), Viacom (and Jio), Sony and Zee were the four front-runners who made it very clear on Day 1 that television may soon be going extinct!
On Day 1 of the IPL E-Auction, the base price of ₹33 Crore for the digital bid went up to as much as ₹48 Crore per game. Television rights didn’t do all that bad either on Day 1, going up to ₹57 Crore from the original base price of ₹49 Crore. On Sunday itself, we locked in a price of as much as ₹105 Crore per IPL game!
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After snail’s pace bidding on Day 1, the action resumed on Monday for Day 2 but the battle for Packages A and B could even continue into Tuesday. At the end of Day 1 of the IPL E-Auction, BCCI President Sourav Ganguly mentioned that the IPL has grown to become bigger than the English Premier League and the numbers are actually speaking for themselves right now.
We’ve done 3x of the last IPL media rights and there’s still more to come on Day 2. There’s every chance that the valuation of the IPL media rights could go on to touch the ₹50,000 Crore mark, which makes it one of the richest sporting events across the world. Take a look at the comparisons between IPL and other sporting leagues:
Considering games like NBA and Premier League are followed by several more countries across the world, it’s great to see cricket among these sporting leagues. And all the others have a longer history as compared to the IPL which only has completed 15 seasons so far, inaugurated in 2008. Talking about the IPL media rights once again, here’s a pool we ran to see who would end as the winner:
Who do you think will win the #IPLMediaRights?#IPLMediaRightsAuction #IPL2023 #TATAIPL
— Read Scoops (@ReadScoops) June 13, 2022
We’re awaiting the major updates from the IPL Media Rights auction and we’re sure to let you know as soon as there’s something new from the event. For similar news and updates on cricket and other sports from around the world, stay tuned to ReadScoops.com!
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