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Star India bags IPL media rights with a whopping bid of Rs 16,347 crore for next five years

Star India snaps IPL media rights for television as well as digital broadcast for next five years with a whopping bid of Rs 16,347 crore.

Star India bags IPL media rights with a whopping bid of Rs 16,347 crore for next five years

Mumbai, Sep 4: Star India has pipped Sony TV to win the digital and television rights for the cash-rich Indian Premier League for the next five years with a bid of a whopping Rs 16,347 crore ($ 2.55 billion).

Star India has won the global broadcast right of the IPL for the period between 2018 and 2022 in the auction at Mumbai. It's highest territorial combined bid was Rs 15,819.54 crores.

The mind-boggling sum has once again shown the dominance of the Indian market in the game of cricket.

The BCCI Chief Executive Officer (CEO) Rahul Johri had earlier said that the revenue generation from the upcoming IPL media rights auction could be "historic", considering the huge interest shown by various stakeholders, and he stands vindicated.

It means, Sony Pictures will no more be the home of the most lucrative domestic league in the world.

The testimony to IPL's growth as the premier sporting property of the country is reflected by the fact that the previous 10-year bid for TV rights only was bought by Sony at Rs 8200 crore in 2008.

Now, the BCCI stands to earn nearly double that amount in half the duration (five years) with earnings of Rs 3270 crore from IPL media rights per year.

The BCCI will now earn Rs 55 crore approximately from an IPL match compared to Rs 43 crore, ironically, for each international match that India play.

"India, cricket and IPL have changed dramatically since its inception (in 2008) and this bid is a reflection of that," Star CEO Uday Shankar told media personss.


The media rights include broadcast (TV) and digital (mobile and internet) for various segments namely India, Middle East, Africa, Europe and America.

Interestingly, rival Sony's individual bid for broadcast (TV rights) this time was Rs 11,050 crore compared to Star's Rs 6,196 crore.

However, as per rule, the companies could form a consortium and if its consolidated global bid happened to be greater than the sum total parts of every individual bid they stand to win the rights.

Accordingly, the sum total of other bids, excluding Star consortium, was Rs 15,819.51 crore which is at least Rs 500 crore less than Star India's consolidated bid.

The BCCI on Monday found only Sony Pictures and STAR India eligible for the TV broadcast rights so the battle was between the two for the same. The bids have been divided into television and digital rights.

It is expected that Star India's digital vertical HotStar would be used for live streaming of IPL matches in India. Shankar admitted that they might not have won the bid had the amount been slightly lesser.

The BCCI was expecting a windfall from the IPL media rights auction with estimated earnings of over 20,000 crore through the traditional bidding process.

(With inputs from PTI)

Story first published: Monday, September 4, 2017, 19:18 [IST]
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