IPL Media Rights News: IPL media rights offerings top Rs 43,000 crore on first day

On the first day of auctions for Indian Premier League (IPL) media rights, four broadcasters bid for TV and digital rights for the next five years, securing at least Rs 105 crore per match or Rs total. 43,050 crores, people with knowledge of the matter said. Auctions will resume on Monday at 11:00.

Package A – TV rights for India subcontinent – ​​16 applications received. Package B – digital rights to the Indian subcontinent – received 30 applications, the people mentioned above said.

At the end of the first day, the highest bid for television rights was Rs 57 crore per match, or Rs 23,370 crore overall, and for digital rights, Rs 48 crore per match, or Rs 19,680 crore for five years. The reserve price for television and digital rights was Rs 49 crore and Rs 33 crore per match respectively, with a total of 410 matches planned for the next five seasons (2023–2027).

ET first reported on June 11 that there would be only four bidders for India packages – DisneyStar, Sony Pictures Networks India (SPN), Viacom18 and (ZEE).

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“In the beginning, both TV and digital packages received weighted bidding, but after lunch, digital rights bidding became aggressive while TV bidding was slow. In the last hour and a half alone, TV rates have also risen by nearly Rs 3 crore per match,” said an executive who participated in the auctions.

Cricket Board of Control in India (BCCI) will auction the remaining two packages – Indian non-exclusive digital rights or package C and rights for the rest of the world or package D – after bidding for the first two packages is completed.

The winner of package A will have the opportunity to challenge the winner of package B for rights. Similarly, the final winner of package B will be eligible to bet against the winner of package C and later package D.

“While this time around, BCCI did not allow a combo offer, it did provide the winner of the first package with the opportunity to win all rights if they can match the respective winners,” explained one of the bidders.

Sports marketing experts told ET that they estimate the cumulative winning entries are likely to be in the range of Rs 50,000 crore to Rs 52,000 crore.