This Company Just Bagged The IPL Media Rights For A Bid Of 16347.5 Crores!
Woah! Star India has won the IPL media rights with a consolidated bid of Rs 16,347.5 crore. Star will get the TV and digital rights for India and the rest of the world.
The bids were invited for seven categories — India television, India digital, US, Europe, the Middle East, Africa and rest of the world. According to Duff & Phelps, a premier global valuation and corporate finance advisor, the IPL’s overall worth has increased to $5.3 billion.
In 2008, Sony Pictures Network won the IPL media rights for 10 years with a bid of Rs 8200 crore. The global digital rights of IPL for a period of three years was awarded to Novi Digital in 2015 for 302.2 crore. The digital rights belong to STAR India currently. But BCCI CEO Rahul Johri has said that this time the tenure is 5 years because: “A period of 10 years was too long a period from a buyer's perspective as well as seller's perspective. In an ever changing world, a decade is a very long period which restricts the property (IPL) from growing. Now we have digital rights for five years. Currently, digital feed (live streaming) is a delayed but we don't know now scenario will change after five years."
Star India now owns the IPL media rights (TV and digital) for 2018-2022 with a bid of Rs 16,347.5 crore. Highest territorial combined bid was Rs 15,819.54 crores.
