Hotstar Exits From The IPL Associate Sponsorship Deal
Hotstar, the online streaming platform of Star India, has withdrawn their Associate sponsorship deal with Indian Premier League (IPL).
According to the reports, IPL Associate sponsorships are currently worth INR 40-80 crores per year. Hotstar, who were the onground sponsor of IPL, was paying INR 42 crores per year for this deal. However, now, Hotstar has decided to leave this plan.
A source from the Board of Control for Cricket in India (BCCI) has confirmed this news to India Today.
The source told India Today, “There was an exit clause in the deal and Hotstar chose to exercise it.”
Hotstar will continue the live streaming of next IPL season
In 2017, Star India won the IPL media rights deal for the next five seasons. They put a whopping INR 16,347.5 crores bid for that television and digital rights. In the same time, Hotstar also joined as the onground sponsor of IPL.
However, the latest exclusion from the IPL Association sponsorship will not put any effect on their media rights. It means the Star India will continue their live telecasting through the television and online streaming platform.
After the end of IPL 2019, Hotstar claimed that over 300 million viewers enjoyed this IPL season. According to the Hotstar, IPL 2019 observed 74% increase in watch-time than the IPL 2018.
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