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IPL Media Rights Highlights: The media rights auction of the Indian Premier League (IPL), one of the biggest cricketing properties in the world, sees bidding for the next cycle of 2023-2027 from top broadcasters, and over-the-top (OTT) players on June 12.
On March 29, the Board of Control for Cricket in India (BCCI) had announced the release of invitation to tender for the media rights cycle, which is divided into four categories. The overall base price of the media rights is estimated at Rs 32,890 crore.
Also Read: IPL Media Rights | Higher valuation to higher number of matches: Here’s all you need to know
On February 1, day one of the Indian Premier League auction, the ten franchises spent Rs 3,88,10,00,000 (Rs 3.88 billion) to acquire 74 players.
The bidding for the media rights cycle, which begins today, is expected to be held in two phases. Bidding for TV and digital rights will be held on Day One, while the remaining rights, which include non-exclusive digital rights and global rights will be held on June 13.
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At Rs 43,000 crore for TV and digital rights, IPL media rights value has increased over 2.5 times during the first day of the bidding. According to people tracking the IPL media rights auction, the bidding war was between Disney Star, Sony Pictures Networks India and Viacom18 for broadcast rights for the Indian subcontinent for all games. For digital rights, Zee was competing with Disney+Hotstar and Reliance Jio.
TV rights per match is estimated to have touched Rs 54 and is likely to up to Rs 55 crore permatch crore during the ongoing auction. Digital rights has reached Rs 50 crore permatch.
With less than an hour left for the bidding to end today, the auction for Bundle A and B, that includes TV and digital rights will go on till June 13 (tomorrow). It is expected that bidding for the remaining two packages which includes digital rights for 18 matches and TV and digital rights for rest of the world is likely to start from noon tomorrow.
With the TV and digital rights value touching Rs 43,000 crore during the ongoing e-auction of IPL's media rights for 2023-2027 cycle, the value is up by around Rs 10,000 crore versus the base price of the media rights set at Rs 32,890 crore for the full rights package.
The bidding for TV and digital rights may not conclude today as the bidding is still going on and is likely to halt at6 PM for the day.
Total bids including TV and digital has likely reached Rs 43,000 crore. The rights are for the Indian subcontinent for all games.
During the ongoing auction for IPL media rights of 2023-2027 cycle, bids for TV have reached Rs 22,500 crore and digital rights value has likely touched Rs 19,000 crore, according to people tracking the bidding. While TV rights are expected to reach Rs 24,480 crore, digital is expected to see stronger growth momentum with value estimated to touch Rs 21,970 crore.
It is estimated that the TV and digital rights value for each match has surpassed Rs 100 crore mark, up from Rs 54.5 crore during the 2018-2022 media rights cycle.
While all eyes are on the first two bundles which includes TV and digital rights, it is expected that the bidding will be more aggressive for digital rights that is expected to have a 50 percent share post the auction of IPL media rights cycle for 2023-2027cycle. Currently, TV rights have a 49 percent share in the overall media rights value followed by digital with 44 percent share.
It is estimated that IPL media rights have crossed Rs 40,000 crore so far. This means the media rights value of the league has more than doubled as compared to 2018-2022 media rights value that was won by Star India for Rs 16,347 crore for TV and digital rights.
