Star India wins IPL Media rights for Rs 16,347.50 cr
KalingaTV News Network
Mumbai: Star India has won the coveted Indian Premier League (IPL) media rights for a whopping Rs. 16,347.50 crore for the next five years. The staggering deal, which will run from 2018 to 2022, has turned out to be a financial windfall for the BCCI despite the administrative crisis it is facing at the moment.
A total of 24 companies had picked up the Invitation To Tender (ITT) to bid for the broadcast and digital rights for IPL in the Indian subcontinent and global markets for the next five years. However, only 14 of the 24 names turned up with their bids, which meant that there was no participation by the likes of Yahoo, Amazon and ESPN digital.
With this deal, BCCI stands to earn nearly double the amount it earned from its earlier 10-year contract with Sony in half the duration of five years, with earnings of Rs. 3270 crore rupees from IPL media rights per year.
The BCCI will now earn approximately Rs. 55 crore from an IPL match compared to the Rs. 43 crores it earns for each international match that India play. The media rights include broadcast (TV) and digital (mobile and internet) for various segments, namely India, Middle East, Africa, Europe and USA.