Star India Bags IPL Rights for a Whopping 16,347 Crores

Sep 4, 2017 at 2:10 PM

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Star India Bags IPL Rights for a Whopping 16,347 Crores

Indian Premier League has been one of the biggest sporting events in the world ever since its inception in 2008. The tournament has garnered attention from all across the world, as it was one of a kind. The stakeholders have all had profits in the past decade.

Sony Pictures Network (SPN) had the IPL rights for the first ten seasons when they bid 8200 Crores to BCCI back in 2008. However, the tender process for the next cycle had begun since the rights were expired at the end of last season. SPN and Star India were considered as the favourites with both the parties desperate to bag the media rights auction for the next five years.

However, it was Star India who managed to pip their counterparts with a mountainous 16347.50 Crore bid for both TV and digital rights for next five seasons (2018-2022).

As many as 24 companies had accepted the invitation from BCCI to bid for the digital and TV rights of IPL both in India and across the world. However, the likes of ESPN Digital Media, Discovery, Gulf DTH, Sky Uk Ltd, Amazon, Media India, BTG Legal Services, Taj TV, BT PLC, Twitter, Group M have not submitted any bids despite accepting the invitation.

India is considered as one of the biggest consumer markets in the world, and this is playing a huge part in making money for BCCI. IPL being one of the most celebrated events in the country, advertisers are looking to make the most of the ad space which is paying dividends to the broadcasting channels.

Earlier Vivo also renewed their deal to be title sponsors, as they increased their bid by almost 500% to be part of IPL for the coming years. The digital and TV rights were sold to different networks last time but BCCI’s decision to sell both rights to a single company has paid riches to the board this time around.

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