IPL media rights e-auction (2023-27): Star India bags TV rights
What's the story
The first-ever e-auction of the Indian Premier League (IPL) media rights concluded on June 14. Star India has bagged the telecast rights (India) for the 2023-2027 cycle with a winning bid of Rs. 23,575 crore. Meanwhile, Viacom18 has claimed the digital rights (winning bid of Rs. 23,758 crore). Notably, the value for the IPL media rights came out to be Rs. 48,390 crore.
Context
Why does this story matter?
Unlike a close-bid auction process (in 2017), the bidding of media rights was conducted via the e-auction this time. Potential companies filed "incremental bids" until the other competitors dropped out. The highest bidder left in the race won the media rights. Notably, the value for the IPL media rights (2023-27 cycle) is nearly three times what Star paid in 2017.
Information
How much did Star India pay in 2017?
In 2017, Star India bagged the IPL media rights (2018-22 cycle) for Rs. 16,347.5 crore. It was the biggest media rights deal in cricket. As per ESPNcricinfo, Star India had paid "158% more than the amount paid for the previous IPL rights cycle".
Packages
A look at the four packages
The e-auction was conducted in four specific packages with a base price each (per match). Package A: TV rights for the Indian sub-continent (Rs. 49 crore). Package B: Digital rights for the Indian sub-continent (Rs. 33 crore). Package C: Digital rights for 18 games per season (Rs. 11 crore). Package D: Combined TV and digital rights for rest of the world (Rs. 3 crore).
Winners
Here are the winners of four packages
Here are the winners. Package A: Star India (Rs. 23,575 crore: Rs. 57.50 crore per match for 410 matches). Package B: Viacom18 (Rs. 20,500 crore: Rs. 50 crore per match for 410 matches). Package C: Viacom18 (Rs. 3,257.52 crore: Rs 33.24 crore per match for 98 matches). Package D: Viacom18 and Times Internet (Rs. 1,058 crore: Rs 2.58 crore per match for 410 matches).
Twitter Post
Second-most valued sporting league!
Since its inception, the IPL has been synonymous with growth today is a red-letter day for India Cricket, with Brand IPL
— Jay Shah (@JayShah) June 14, 2022
touching a new high with e-auction resulting in INR 48,390 cr value. IPL is now the 2nd most valued sporting league in the world in terms of per
match value!
Revenue
IPL generates more revenue than English Premier League
BCCI president Sourav Ganguly, recently, highlighted the revenue IPL generates. "I've seen the game evolve, where players like me earned a few hundreds and now have the potential of earning crores. 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," said Ganguly during an interaction.
Matches
The number of matches could be extended to 94
The 2022 IPL season was a 10-team affair, with champions Gujarat Titans and Lucknow Super Giants joining the other eight franchises. A total of 74 matches were played in the recently-concluded season. The next two seasons (2023-2024) will also see as many matches being played. Reportedly, the number of matches could be extended to 94 by 2027 (84 in 2025-2026).