Star India wins IPL media rights for next five years
TIMESOFINDIA.COM | Updated: Sep 4, 2017, 16:09 IST
- Star India was declared as the holder of IPL media rights from 2018-2022
- Star India won the auction with a consolidated global bid worth Rs 16347.50 crore
- Star outbid current broadcaster Sony’s bid of Rs 11058 crore to bag the rights
A total of 24 companies had picked up the Invitation To Tender (ITT) to bid for the broadcast and digital rights in the Indian subcontinent and global markets for the next five years. However, only 14 of the 24 names turned up with their respective bids, which meant that there was no participation by the likes of Yahoo, Amazon and ESPN digital.
After a long technical evaluation, it was announced by BCCI CEO Rahul Johri 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. However, it was later revealed that Star had launched a consolidated bid and was declared winner.
Interestingly, rival Sony’s individual bid for broadcast (TV rights) this time was Rs 11,050 crore compared to Star’s Rs 6,196 crore. But as per rule, the companies could form a consortium and if its consolidated global bid happened to be greater than the sum total parts of every individual bid they stand to win the rights.
“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.”
In 2008, with a bid of 8200 crore, Sony Pictures Network had won the IPL media rights for a duration of 10 years. The global digital rights of IPL was handed over to Novi Digital (three years) in 2015 for 302.2 crore.
As it happened…
UPDATE: AND WE HAVE A WINNER. Star India wins consolidated IPL broadcasting rights with a whopping bid of 16,347.50 crore.
UPDATE: With that announcement, it’s time for the lunch interval. We will be back shortly as soon as the proceedings resume.
UPDATE: And we’re back, after a rather lengthy break. BCCI CEO Rahul Johri has listed out the names eligible for the bids. For TV rights, Star and Sony PicturesNetwork are strong candidates. For digital rights, Times Internet, Reliance Jio, Airtel and Facebook have emerged as contenders. ( PS: These are for the Indian market) .
UPDATE: There are predictions that BCCI could be richer by more than Rs 20,000 crore through their earnings from the rights.
UPDATE: The BCCI CEO Rahul Johri has said that the revenue generation from the upcoming IPL media rights auction could be “historic”, considering the huge interest shown by various stakeholders.
About bidding: The bids were invited for seven categories – India television, India digital, US, Europe, the Middle East, Africa and rest of the world.
Things to know: The rights have been segregated in two categories – broadcast and digital (internet and mobile) rights. All the rights will be for a period of five years from 2018-2022.
What happened earlier: In 2008, Sony Pictures Network won the IPL media rights for a period of 10 years with a bid of Rs 8200 crore. The global digital rights of IPL for a period of three years was awarded to Novi Digital in 2015 for 302.2 crore.
UPDATE: As the technical evaluation of the bids submitted by respective companies take place, a small break has been taken.
UPDATE: Out of 24 who have taken ITT, only 14 have turned up for the IPL media rights. No bids from Amazon, ESPN digital, Yahoo.