THE PROCESS OF monetising cricket has been a big story in the game for many years. For about a quarter of a century, segments such as broadcasting rights and players’ endorsements, among others, saw big money flowing in. But nothing comes close to the Indian Premier League (IPL), a tournament that took shape in 2008 with the objective of a quick-fire game and lots of entertainment. At 20 overs a side, it was possible to host two games in a day at different venues without any time overlap. Be it the players, team owners or advertisers, it made for a great proposition for all.
It has been repeatedly proven that the IPL is today in a league of major international sporting events, and the recent media rights auction has reiterated it. However, the acquisition of media rights—the basic television and digital deals for the Indian subcontinent—for ₹44,075 crore over a five-year period has startled people for the magnitude of the amount as much as it has on how it will perhaps be recovered. Besides, the amount coughed up for the digital rights (see graphic) means it is a property as critical as television and in time should continue to grow on a larger base.
While Disney Star won the television rights for the Indian subcontinent, Viacom18 won the digital rights for the subcontinent. Viacom18 also picked up the nonexclusive digital rights for India (which gives it access to a selection of matches over the five-year period) for ₹3,258 crore. And Times Internet and Viacom18 won the television and digital rights for the rest of the world for a sum of ₹1,058 crore.
This story is from the July 10, 2022 edition of Business Today India.
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This story is from the July 10, 2022 edition of Business Today India.
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