IPL Media Rights bidding process for the 2023-2027 cycle has come to an end, with the television rights being sold for a whopping ₹57.5 crore (per match) and digital for ₹50 crore (per match). News agency ANI recently reported that the final count for the TV rights stands at ₹23,575 crore while the digital rights closed at 20,500 crore. The names of the winners are yet to be disclosed but as per reports, it has been noted that Sony has won the TV rights, whereas for digital, the winner is either Viacom 18 or Jio.
The bidding process for IPL Media Rights has concluded
Disney Star, Sony, Zee, SuperSport, and Viacom 18/Reliance were some of the major contenders in the fray to secure the broadcasting rights of the cash-rich tournament. The bidding war exceeded the previous value of the rights and it has doubled up.
The e-auction for the IPL media rights for the 2023-27 cycle started on Sunday, June 12 morning with Bundles A and B going under the hammer first. The media rights have been categorized into a total of four bundles by the Board of Control for Cricket in India (BCCI) this time around.
Bundle A consists of the TV rights for the Indian subcontinents while Bundle B consists of the digital rights for the Indian subcontinent. Bundle C is a special bouquet of 18 matches, including some weekend games and playoffs while Bundle D consists of the TV and digital rights of the rest of the world.
While the IPL media rights auction was not being televised, it has been reported that combined bidding for Bundle A and B crossed the Rs 42,0000 crore (approx $5.3 billion) mark, and the interested parties were locked in an intense battle to secure the media rights for the next five-year cycle.
With the bidding reaching the $5.3 billon-mark, it has already become more than doubled from its value in the last five-year cycle. Star had bought the IPL media rights for the 2018 to 2022 cycle for a sum of Rs 16,347 crore (approx $2.5 billion) back then.
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