IPL media rights deal for Rs 16347.50 crore for next 5 years

Started by Sudhakar, Sep 15, 2017, 07:14 AM

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Sudhakar

Indian Premier League media rights deal for Rs 16347.50 crore for next 5 years

In an intense bidding war in Mumbai, Star India bagged the IPL media rights for Rs 16347.50 crore for the next five years

Star India on Monday bagged the Indian Premier League media rights for a whopping Rs 16347.5 crore for a period of five years from 2018-2022. In an intense bidding war in Mumbai, Star India pipped 23 other top companies participating in the auction.

The IPL media rights auction, segregated into two categories -- broadcast and digital (internet and mobile) rights -- was expected to yield to the BCCI an estimated earning of over 20,000 crore through the traditional bidding process.

Bids were also invited for five other categories - US, Europe, the Middle East, Africa and rest of the world.

Earlier, BCCI Chief Executive Officer (CEO) Rahul Johri had said that the revenue generation from the upcoming IPL media rights auction could be "historic", considering the huge interest shown by various stakeholders.

A total of 24 bidders bought the bid document, including Facebook, Amazon, Twitter, Yahoo, Reliance Jio, Star India, Sony Pictures, Discovery, Sky, British Telecom, and ESPN Digital Media.

In 2008, when the IPL started, roughly six companies purchased the bid document for the first rights cycle.

All were television entities and, eventually, only two qualified for the bid -- the Sony-World Sports Group alliance and Nimbus.

Source : https://www.techgig.com/tech-news/IPL-media-rights-deal-for-Rs-16347-50-crore-for-next-5-years-124727

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hello.. this was really huge and shocking amount of money was not expecting this..congratulations to star hoping to have some good IPL action next year... 8)
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