Star India bagged the IPL media rights for TV and digital broadcast for the highest amount of Rs 16,347.50 crore with a single consolidated bid worldwide. The term will hold for the next five years of IPL that is from 2018 to 2022.
A total of 24 companies had picked up the Invitation To Tender to bid for the broadcast and digital rights in the Indian subcontinent and global markets for the next five years. Out of these 24 names, only 14 turned up with their respective bids. Furthermore, the round saw no participation from Yahoo, Amazon and ESPN digital.
Here are the final figures for IPL Media Rights for the period from 2018-2022. #IPLMediaRights pic.twitter.com/2y1m0X4701
— IndianPremierLeague (@IPL) September 4, 2017
VIVO retains title sponsorship for IPL 2018-22. They bid Rs.2,199 Crores, 554% increase over the previous contract! pic.twitter.com/6D7RXooTvB
— IndianPremierLeague (@IPL) June 27, 2017
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BCCI CEO Rahul Johri, after having done long technical evaluation,announced that for broadcast rights, Star and Sony had emerged as eligible candidates while Times Internet, Reliance Jio, Airtel and Facebook could rightfully bid for digital acquisition. And later on revealing that Star had launched a consolidated bid and was declared winner.
“We believe the IPL is a very powerful property, and we believe there is lots more value that can be created for fans of cricket on digital and TV,” Uday Shankar, chairman of Star India, said. “We would remain committed to ensure the growth of sports in this country continues to be driven by the power of cricket.”
Earlier, Sony Pictures Network held the rights, winning them for Rs 8,200 crore for a duration of 10 years(2008-2017). The global digital rights of IPL was handed over to Novi Digital (three years) in 2015 for 302.2 crore.
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