Zee Entertainment shares surge after FIFA World Cup broadcast bid
What's the story
Shares of Zee Entertainment Enterprises surged nearly 12% to ₹92.41 today. This rise came after the company announced its intention to secure broadcasting and streaming rights for the 2026 FIFA World Cup in India. The announcement was made during the launch of Unite8 Sports, a dedicated portfolio of sports channels aimed at strengthening its sports broadcasting business.
Figures
A look at broadcasting right saga
According to a Reuters report, FIFA had initially asked for around $100 million for the India rights package for both the 2026 and 2030 FIFA World Cups. However, talks later moved toward a minimum of about $60 million as Reliance-Disney JV's bid was only $20 million against the ask of $60 million.
Bidding details
India among top global TV audiences
Zee Entertainment is said to have bid between $30-$35 million for the rights. However, there is no confirmation yet on who is winning the bid. FIFA has already signed broadcast agreements in over 180 territories globally. India remains one of FIFA's biggest viewership markets with a linear television reach of 2.9% for the 2022 Qatar World Cup, second only to China in total engagement.
Viewership statistics
Over 740M viewers in India for 2022 World Cup
Over 745 million fans in India reportedly watched the 2022 tournament on different platforms, with television viewership reaching nearly 84 million. This puts India among the top 10 global TV audiences for the event, ahead of many participating countries like Germany, France and England.