IPL TV and digital rights valued at Rs 44,075 crore, sold to two entities

MUMBAI,JUNE 11: The IPL media rights value for the 2023-2027 cycle has been sold for a whopping Rs 44,075 crore for 410 matches on Monday as per sources in the ongoing e-auctions.

According to the latest information with ANI, Package A of TV is sold at Rs 23,575 crore which is Rs 57.5 crore per match and Package B of Digital Rights for India is sold at Rs 20,500 crore which is Rs 50 crore per match. The details of who bid what is yet to come but the value for per match TV, and digital rights is Rs 107.5 crore.

According to ANI sources, there are two media houses who have won the bid, one for TV and the other for digital. The media rights value has grown more than two and a half times than what Star India paid in the year 2017.

The process was divided into a total of four packages (A, B, C and D). Package A is exclusive for TV (broadcast) for the Indian subcontinent while package B is for digital-only grouping for the same region. The winner will be able to digitally broadcast the games across the Indian sub-continent.

There are four specific packages in which e-auction is being conducted or 74 games per season for a five-year period with a provision of increasing the number of matches to 94 in the final two years.

Package C is for 18 selected games in each season for digital space. In Package D all games will be for combined TV and digital rights for overseas markets.

All bidders made separate bids for each package. Bidders for Package A must have a net worth of Rs 1,000 crore; it is Rs 500 crore for those bidding for other packages.

The biggest media houses in the country were fighting to earn the right to broadcast the world’s richest cricket league on their platform.

-PTI