Star India pay £1.97bn to secure Indian Premier League rights

Star India pay £1.97bn to secure Indian Premier League rights

Javier Howell
September 6, 2017

His media group has just agreed to pay $2.6 billion for the global TV and digital rights to India's Premier League for the next five years.

The IPL media rights have emerged more lucrative than the Indian team's home matches with Star set to pay Rs 55 crore for an IPL game - Rs 12 crore more than what it now pays for an global fixture.

Facebook has again suffered a setback in India, this time finding that around US$600m wasn't enough to secure five years worth of digital distribution rights for cricket matches.

The television and digital rights for the Indian Premier League has been bagged by Star India for a whopping Rs 16,347.5 crore.

While, Sony Pictures bid Rs.11,050 crores for IPL rights for Indian broadcast, Star India bid Rs.6,196.94 crores for India broadcast rights. In the morning, of the 24 companies that had bought the ITT (Invitation to Tender) document for various rights, only 14 turned up for the auction.

"We believe the IPL is a very powerful property, and we believe there is lot more value that can be created for fans of cricket on digital and TV". Now Sony Pictures is also in the auction process along with the Star India. "Digital did not exist 10 years ago", Shankar said. The cycle came to an end in 2017.

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"Even if it was slightly less, we would have not got the rights and that should tell you that this is the right figure", Shankar said. But in every category, it has been so competitive. In addition to this, there were separate bids that were invited for other markets which included the US, Europe, Africa regions, Middle East, and the rest of the world.

The rights on offer are Indian sub-continental TV rights, which is the most coveted along with emerging Indian sub- continent digital rights. We would remain very committed to the growth of sports in the country.

The bidding process was one of the most keenly watched events in the cricket calendar this year and massive interest for its television rights is proof of the brand value of IPL.

But given that the rights period has been reduced from 10 years to five, will Star India be able to recover the cost?

Facebook may well have been planning to use India as a kind of testbed for the idea - earlier this year the social media firm livestreamed a regular-season National Basketball Association match between the Golden State Warriors and the Sacramento Kings for the first time, but the stream was only accessible to viewers in India. The strategy of building the TV as well as the digital part of the business allowed it to make a winning bid that was Rs 528 crore more than the sum of the highest individual bids (Rs 15,819.51 crore).