IPL MEDIA RIGHTS DAY-1: BIDDING VALUE FOR TV, DIGITAL GOES PAST Rs 43,000 CRORE
(The Quiver): The first day of the e-auction for the media rights of the Indian Premier League (IPL) concluded on Sunday with the combined value of television (TV) and digital rights surpassing the Rs 43,000-crore mark, informed sources told Business Standard.
At this rate, the combined TV and digital rights so far have crossed the previous rights value of Rs 16,347.50 by over two-and-a-half times.The combined TV and digital value is also Rs 10,000 crore more than the reserve price of nearly Rs 33,000 crore that was set by the Board of Control for Cricket in India (BCCI) for the current media rights cycle (2023-27 period).
The bidding for TV and digital rights have not concluded yet, persons in the know said, implying that the combined value could near the Rs 50,000-crore-mark on Monday. Bidding for the special rights package and rest-of-world rights will also happen on Monday.
The final winners are expected to be announced by the end of Monday, informed sources said.While the e-auction platform does not allow participants to see who is placing bids, reliable sources said that Disney-Star, Sony Pictures Networks India and Viacom18 had set their sights on the TV rights for the Indian subcontinent for all games, which is package A.
For digital rights for the Indian sub-continent, which is package B, Zee was competing with Disney+ Hotstar and Jio, part of the Reliance-backed Viacom18 combine.The TV rights per match is estimated to have crossed Rs 55 crore per match at the end of day one of the e-auction, higher than Rs 49 crore per match set by the BCCI as base price. Digital rights had neared Rs 50 crore per match at the end of bidding on Sunday, persons in the know said. This is over 50 per cent higher than the Rs 33 crore per match set by the cricketing body before the e-auction.
Following day one of bidding, the combined TV and digital rights value on a per-match basis has surpassed the Rs 100-crore mark, up from Rs 54.5 crore during the 2018-2022 media rights cycle, experts said.The build-up to the e-auction, incidentally, was eventful, with at least ten companies picking up bid documents last month. However, just seven remained in the race, with tech giants such as Amazon, Google and Apple opting out of the e-auction process.”Amazon and Google did not submit technical bids (on Friday), though they had picked up the bid documents (last month),” a BCCI official had said.”
The companies that submitted technical bids included Disney-Star, Sony, Zee, Viacom18, Times Internet, Supersport from South Africa and FunAsia, which is a media company based in North America,” the official said.
