IPL media rights bidding war crosses $5.3 billion mark

The e-auction for the Indian premier league broadcasting rights for the 2023-27 cycle began on 12 June. On the first day itself, the e-auction crossed the $5.3 billion mark. The amount is already doubled from approx $2.5 billion for the 2018 to 2022 broadcasting cycle.

At the current e-auction, the IPL broadcasting rights for the next 5-year term, from 2023 to 2027, are up for grabs. Disney Star, Sony, Zee, SuperSport, and Viacom 18/Reliance are among the big players contending for the rights to telecast the world’s most popular T20 tournament for the next five years. Packages A and B were the first to be auctioned. BCCI has divided the streaming rights into four packages this time.

What are the 4 packages for IPL e-auction?

• Package A – TV rights for the Indian subcontinents
• Package B – The digital rights for the Indian subcontinent
• Package C – Special bouquet of 18 matches, including some weekend games and playoffs
• Package D – TV and digital rights for the rest of the world

The aggregate initial price of the IPL broadcasting rights was fixed at about Rs 32,890 crore (approximately 4.2 billion USD) with packages C and D still to be auctioned. By the completion of the e-auction for the IPL media rights, BCCI expects the tournament’s worth to have skyrocketed. It will make IPL one of the most expensive sporting leagues in the world.

The IPL broadcast rights auction is not being telecasted. Therefore, according to the latest reports, the consolidated bidding for packages A and B has indeed surpassed Rs 42,0000 crore (approximately $5.3 billion). The potential buyers are still tied in a fierce war for the next five-year cycle’s broadcasting rights. The winner will be announced once the bidding war for all four packages ends. Moreover, the auction results are likely to be announced late Monday evening or Tuesday.

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