At the IPL Media Rights Auction, Reliance-backed Viacom18 ultimately spent $23,773 Crore. How Viacom will recoup such a cost has been questioned by several media analysts. However, Reliance Viacom18 and the JV Partner have finally made their BIG PLAN public. Paramount, a partner of Viacom18, will introduce its global streaming service Paramount+ in India on the strength of the IPL Rights.
The debut of Paramount+ in India is expected to occur the following year, according to Paramount Global CEO Robert Bakish. The super service from Viacom18 will be included with the premium streaming platform. At the Credit Suisse Communications Conference, Bakish revealed the ideas.
In a joint venture with Viacom18, Bakish said that the streamer would be introduced in India.
Here’s what he had to say
“We’re going to launch in India. We’re very excited about that. We’re doing it with our JV, Viacom18, which as you know as a partner in Reliance.
Reliance is the most powerful company in India and now has Bodhi Tree involved too. They just got the exclusive streaming rights for cricket. Now the cricket won’t be on Paramount+, but Paramount+ will be bundled with their super service.
So again, we don’t have to invest in local content. We don’t have to invest in local marketing. We ride alongside the super service.”
Additionally, a unique package of 18 games every season had been awarded to the corporation. In addition to these, it holds the digital and television rights for three of five foreign countries.
According to Viacom18, its digital platforms were preparing for leadership in India as well as among the Indian diaspora worldwide thanks to their broad reach, strategic alliances, and increasingly well-liked content portfolio.
Viacom18 would be able to bring India’s largest athletic event to every part of the nation thanks to these IPL rights, the firm claimed.
Additionally, the network owns the Indian rights to the NBA, La Liga, Serie A, and Ligue 1.