The auction is going on regarding the media rights of the Indian Premier League (IPL). Monday (13 June 2022) is the second day of this mega auction and today it can be decided who can have the rights to the worlds biggest cricket event for the next five years. These media rights are from the year 2023 to 2027.
IPL is the most popular cricket league in the world, which earns a lot of money. Big companies are included as the recipients of their media rights. As expected in the auction by the BCCI, the bidding was done in a big way on the first day. The first day of the auction process saw fierce competition between Viacom 18, Sony, Star India, and Zee Group. Now it is fully expected to continue for the second day also. By the time of the end of the first days process, the news that came to the fore, the BCCI seems to be earning Rs 104 crores for each match of the IPL, including package A and package B.
On the first day, there was bidding for Package-A and Package-B of Media Rights. This includes TV rights and digital rights. The bidding of the two packages had reached Rs 43 thousand crores on the very first day itself. That is, the cost of media rights for a match has crossed Rs 105 crore.
Big names like Reliance, Zee, Sony, and Disney-Star are among the bidders for media rights. These are the companies that are bidding for both TV and digital rights. While some companies are focused only on digital rights.
“IPL becomes the second most lucrative sporting property in the world," tweeted former Indian cricketer Akash Chopra. That’s when India is a ‘developing country’ and is apparently, not a ‘sporting nation’ either. The potential of our nation is limitless. Extremely proud “
IPL becomes the second most lucrative sporting property in the world. Wow ?— Aakash Chopra (@cricketaakash) June 13, 2022
That’s when India is a ‘developing country’ and is apparently, not a ‘sporting nation’ either. The potential of our nation is limitless. Extremely proud ??? Jai Hind ??
The bidding for bundle C is going on which offers non-exclusive digital rights for 18 matches at Rs 16 crore per game and it is estimated that these matches could get the winner 40 percent of the IPLs viewership as these matches include four playoff games and 13 evening double header matches.
Reports emerging says the television and digital broadcast rights have been won by two different companies.
According to an Elara Securities report, winner of package 1 will have the right to rebid for package 2 and winner of package 2 will have the right to rebid for package 3 (it includes digital rights for Indian subcontinent for a cluster of 18 matches)
Auction for TV rights value concluded at Rs 57 crore/match and digital rights value closes at Rs 48 crore/match. The overall TV and digital rights has closed at Rs 43,050 crore for 2023-2027 media rights cycle, up from base price of Rs 30,340 crore.
The bidding for the first two bundles including TV and digital rights is over, according to people tracking the media rights auction
Digital rights which is expected to see highest growth in terms of value ended on day one of bidding (June 12) at Rs 48 crore/match, up from its base price of Rs 33 crore for each game.
The base price for TV was set at Rs 18,130 and digitals base price is Rs 12,210, totaling to Rs 30,340 crore
Reports suggest Mukesh Ambani-backed Viacom18 could edge Star Network for the rights. The race has is going to heat up between these two contenders.
IPL Media Rights Bidding will resume today at 11am, currently it is 43,050 crores - Results may come by evening