IPL media rights bidding for 2023-2027 witnesses a significant rise

As per reports, the bidding for TV and digital rights of IPL has crossed INR 100 crore each game. Officials expect IPL to become the second most league in the world keeping the media rights bidding in mind.

IPL media rights bidding for 2023-2027 witnesses a significant rise

IPL is one of the most popular sporting formats in the country and the craze for the league has increased over the last few years. With increasing number of viewers, the bidding for the telecast and advertising has also witnessed a sharp rise.

Report published in the Indian Express shares that the bidding for the television and digital rights for the IPL has reached INR 57 crore and INR 48 crore respectively for each game, and collectively, the value for both the rights of league, for the cycle from 2023 to 2027, stands at INR 105 crore.

Moreover, officials have informed that the figure has seen a rise by INR 10,000 crore for a five-year period, i.e., from the current base price of INR 32,890 crore to INR 43,050 crore. The e-auction was held in two packages – A and B (TV and Digital) – on Sunday, June 12, 2022. The auction was planned to resume on Monday, June 13, 2022, following which the other two packages – C and D (for a total of 18 matches, in non-exclusive digital rights for India and worldwide TV+digital rights) will be continued.

The publication quoted a BCCI official who said, “We are happy with the way the day has progressed and the best part is all the bidders have shown keen interest. We are hoping that bidding reaches figures the IPL deserves. The second day will be more interesting for all stakeholders.

In the past, broadcaster Star India had secured the media rights for a period of five years from 2018 to 2022. Besides that, social media giant, Facebook, had won the digital rights for the league.

However, this year, authorities are planning a match-wise bid on each game, divided in the package -wise manner, for which the base price has been set as INR 49 crore and Rs 33 crore, respectively for packages A and B

This year, the BCCI sensed an opportunity, given digital viewing’s fast-growing popularity — a 49 per cent post-pandemic growth in digital subscription. The decision to do away with composite bids has also proved to be a smart move.

As per reports, the per-game bid on the first day of auction, in US dollars stood at $13.43 million, which is more than the $11 million dollar which was paid for the English Premier League. Ahead of the event, BCCI secretary Jay Shah expressed his confidence that keeping the media rights interest and bidding in mind, IPL has the potential to become the second most liked sports league globally.

The publication quoted BCCI president Sourav Ganguly, who in a past event had said, “I have seen the game evolve, where players like me earned a few hundreds and now have the potential of earning crores. This game is run by the fans, by the people of this country, and by the BCCI, which was formed by cricket fans. This sport is strong and will continue to evolve. The IPL generates more revenue than the English Premier League. It makes me feel happy and proud that the sport I love has evolved to become so strong.”

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