Star India on Monday bagged the Indian Premier League media rights for a whopping Rs 16347.5 crore for a period of five years from 2018-2022. In an intense bidding war in Mumbai, Star India pipped 23 other top companies participating in the auction.
The IPL media rights auction, segregated into two categories -- broadcast and digital (internet and mobile) rights -- was expected to yield to the BCCI an estimated earning of over 20,000 crore through the traditional bidding process.
Bids were also invited for five other categories - US, Europe, the Middle East, Africa and rest of the world.
Earlier, BCCI Chief Executive Officer (CEO) Rahul Johri had said that the revenue generation from the upcoming IPL media rights auction could be "historic", considering the huge interest shown by various stakeholders.
A total of 24 bidders bought the bid document, including Facebook, Amazon, Twitter, Yahoo, Reliance Jio, Star India, Sony Pictures, Discovery, Sky, British Telecom, and ESPN Digital Media.
In 2008, when the IPL started, roughly six companies purchased the bid document for the first rights cycle.
All were television entities and, eventually, only two qualified for the bid -- the Sony-World Sports Group alliance and Nimbus.
As many as seven rights were up for for bidding. For the Indian market, bids were divided into television and digital; then there were separate bids for the US, Europe, Middle East, Africa regions, and the rest of the world.
The rights were awarded to the highest bidder in each category.
Previously, the BCCI, which owns the IPL, had sold the rights only for three categories: India television rights, India digital rights and rest of the world.
The 18 eligible companies which bought bid documents last year before the process was stalled were: Star India, Amazon Seller Services, Followon Interactive Media, Taj TV India, Sony Pictures Networks, Times Internet, Supersport International, Reliance Jio Digital, Gulf DTH FZ LLC, GroupM Media, beIN, Econet Media, SKY UK, ESPN Digital Media, BTG Legal Services, BT PLC, Twitter, Facebook Inc.
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