BCCI has agreed to do E-Auctioning for the new cycle of media rights. The release of the IPL Media Rights tender will have to coincide with IPL 2022 Auction in Bengaluru. The whole process of tendering and sanctioning the media rights (2023-27) is going to get completed before April 2022.
A top official of BCCI confirmed, “E-AUCTION in past also have given good results to BCCI’s commercial inventory. We feel we will get better value for the rights via E-AUCTION. The tender will be released by 2nd week of February”.
In 2017, the IPL rights got sold via closed bids. Star India which is now a part of Disney won the bid for Rs 16,347 crores leaving Sony Network and others behind.
BCCI expects a bid in the range of 35,000 to 40,000 Crores which is 150% more of the last value of rights.
The primary contenders are going to be Disney Star Network, Reliance Viacom 18 and Amazon Prime Video that are going to be the primary contenders for the rights. BCCI and Disney Star Network stated that they will be betting big on IPL Media Rights and other cricket properties.
K Madhavan, the president of The Walt Disney Co India & Star India, has declared that company will continue to invest big in SPORTS-RIGHTS has declared company will continue to invest big in SPORTS-RIGHTS
“Sports business for us is in an investment mode and we won’t shy away from investing heavily. We are going to be bullish on all rights renewals. We have over 60% market share in sports, which we want to continue to have”.
Amazon enters cricket streaming
Amazon has recently entered the Cricket- Streaming Space with the rights of the New Zealand Cricket Board. The rights were bought back in 2022 but Amazon started the cricket streaming services with the Bangladesh tour of New Zealand 2022 in January. Amazon also desires to get the IPL Media Rights Tender.
Amazon’s entry is going to make the environment very competitive for the IPL Bidding race. Reliance is soon going launch its sports channel that has made the IPL Media Rights bidding two-fold interesting.