In the auction for BCCI’s media rights, Viacom 18, Disney Star, and Sony Sports engaged in a competitive three-way battle, all vying for the highest quality rights.
Reliance Industries’ Viacom18 has won the television and digital rights for the Indian cricket team’s home matches for the next five years, for a whopping ₹5,966 crore ($825 million). The deal includes the broadcast rights for all international matches played by India in the Indian subcontinent, including Test matches, ODIs, and T20Is.
The media rights were sold in an e-auction held by the Board of Control for Cricket in India (BCCI) on August 31, 2023. Viacom18 emerged victorious after a fierce bidding war with Disney Star and Sony Sports Network.
The deal is a major coup for Viacom18, which has been looking to expand its sports portfolio. The company already owns the digital rights for the Indian Premier League (IPL), and the latest deal gives it a foothold in the lucrative world of cricket broadcasting.
The new media rights deal will come into effect from 2023-24 season and will run till 2027-28 season. It is a significant increase from the previous media rights deal, which was worth ₹6,138 crore ($834 million) for four years.
The increase in the media rights value is a reflection of the growing popularity of cricket in India. The sport is followed by millions of fans across the country, and the Indian team is one of the most successful teams in the world.
The new media rights deal is also a boost for the BCCI, which is the richest cricket board in the world. The board will use the revenue from the deal to improve the infrastructure of cricket in India and to support the growth of the sport.
Congratulations @viacom18 🤝 for winning the @BCCI Media Rights for both linear and digital for the next 5 years. India Cricket will continue to grow in both spaces as after @IPL, and @wplt20, we extend the partnership @BCCI Media Rights as well. Together we will continue to…— Jay Shah (@JayShah) August 31, 2023
The Board of Control for Cricket in India (BCCI) has awarded the media rights for the Indian Premier League (IPL) for the 2023-27 cycle to Viacom18, a joint venture of Reliance Industries and ViacomCBS.
The deal is worth Rs 48,940 crore, or $6.2 billion, making it the most expensive media rights deal in the history of cricket. Viacom18 won the digital rights for Rs 23,758 crore, while Star India retained the TV rights for Rs 23,575 crore.
The value of each IPL match is now Rs 118 crore, up from Rs 54.5 crore in the previous cycle. The total number of matches in the 2023-27 cycle will be 74.
Viacom18 will be able to live stream all IPL matches on its digital platforms, including Voot and JioTV. Star India will broadcast the matches on its TV channels, including Star Sports and Disney+ Hotstar.
The BCCI secretary, Jay Shah, said that the high value of the media rights deal was a testament to the growing popularity of the IPL. He also thanked Star India for its support over the years.
The IPL is the most popular cricket league in the world, and the media rights deal is a major boost for the BCCI. The money generated from the deal will be used to develop cricket infrastructure in India and to support the growth of the game.