Star India has successfully won the IPL media rights for TV and digital broadcast with just a single big worldwide. The worth of this right is a whopping Rs.16,347.50 crore. Star India won the race against Sony by a whisker and acquired the rights from 2018 to 2022.
While a total of 24 companies were head up against each other to bid for the digital and broadcast rights in the Indian subcontinent and global markets, it was only 14 of the 24 companies that actually turned up with their bids after accepting the Invitation To Tender (ITT). It was surprising to see no participation from the ends of Yahoo, Amazing and ESPN digital.
You can check out the final figures for the IPL media rights extending from the period of 2018 to 2022 here:
— IndianPremierLeague (@IPL) 1504513375000
After a long wait and evaluation, it was finally revealed to everyone by BCCI CEO Rahul Johri that Star India and Sony had emerged as the top contenders for the broadcast rights of the ILP, where as reliance Jio, Airtel and Facebook could big for the digital acquisition. However, it was only later revealed that Star India had launched a consolidated bid, which finally declared it the winner for the digital and broadcast rights for IPL from 2018 to 2022.
To add a twist to the story, the head to head competitor of Star India, Sony, was seen to lash out an individual bid of Rs.11050 crores, compared to Star India’s bid of only Rs.6196 crores. However, as per the general rules, if a companies consolidated global bid, after forming a consortium, is seen to be greater than the total of every individual bid, the company stands a chance to win. And that is exactly how Star India won its big this year.
As quoted by Star India, “We believe the IPL is a very powerful property, and we believe there is a lot 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.”
With a bid of 8200 crores, Sony Pictures Network had won the IPL media rights for ten years in 2008. However, in 2015, the global digital rights for IPL was duly handed over to Novi Digital for 302.2 crore.