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IPL Media Rights: Bidding value for TV and Digital goes past Rs 43,000 crore on Day 1

NEW DELHI: The media rights value for the Indian Premier League (IPL) cycle 2023 to 2027 has gone past the Rs 43000 crore mark, with the value of rights for every match of the tournament crossing the 100-crore mark on combining value for TV as well as digital price.

The bidding began at 11 AM IST on Sunday for the broadcast rights, digital rights, a bespoke package that includes rights for high-value matches as well as rights to broadcast the Indian Premier League in foreign territories.

As per agencies, Disney DIS.N, Sony 6758.T and India's Reliance RELI. NSin are in contention for the multi-billion deal.

The report also said that with Sunday's auction proceedings paused at 6 pm, the IPL media rights auction will carry forward to Monday as well, as per the rules set by the Board of Control for Cricket in India (BCCI).

It added that the bidders are making full use of the 30-minute gap present between every bid.

The digital and television rights for 2023 to 2027 are expected to be more than double the 163.48 billion rupees ($2.09 billion) that Star India, now owned by Walt Disney Co, paid in 2017. Reliance Industries Ltd is bidding through its broadcasting joint venture, Viacom 18. Sony Corp's India unit and local broadcaster Zee Entertainment are in merger talks but are bidding separately.

The bidding for TV and digital rights have not concluded yet, persons in the know said, implying that the combined value could near the Rs 50,000-crore mark on Monday.

Apart from packages A and B, which are television and digital groupings for the Indian broadcast region, there are two more packages in the fray as well - like package C, which has 18-game non-exclusive special matches (base price of Rs. 11 crore) and package D, which is the rest of the world rights (base price of Rs. 3 crore).

The TV rights per match are estimated to have crossed Rs 55 crore per match at the end of day one of the e-auction, higher than Rs 49 crore per match set by the BCCI as the base price. Digital rights had neared Rs 50 crore per match at the end of bidding on Sunday, persons in the know said. This is over 50 percent higher than the Rs 33 crore per match set by the cricketing body before the e-auction.

As of 2022, there are 74 matches per season, including the 4 playoffs matches. However, the BCCI might increase the count to 84/94 in the last two years of the upcoming cycle.

BASE PRICE FOR MEDIA RIGHTS IPL 2023-2027

The BCCI had segregated the media rights into 4 different packages. The first of the 4 packages will be the TV rights for the Indian sub-continent while the second will be the digital rights for the same.

The third, a first in the IPL media rights history, will see the sale of packages for 18 matches, which constitute the non-exclusive digital package. The fourth is the overseas TV and digital rights.

Package A - Rs 49 crore per match

Package B - Rs 33 crore per match

Package C - Rs 11 crore per game

Package D - Rs 3 crore per game

BCCI HOPING FOR GOOD NUMBER ON MONDAY

"We are very happy that things are going the way they were planned," the treasurer of the Indian cricket board (BCCI) Arun Singh Dhumal was quoted as saying by the news agency Reuters. "The participants are very enthusiastic. The bidding is still on and we are hoping for a good number tomorrow.

"This is the first time we went for an e-bidding to ensure a fair and transparent process."

"There is also a global shift toward saner valuations, where investor expectations have shifted from ‘growth-at-any-cost' to ‘growth-with-profitability'," said Mihir Shah, vice president of consultants Media Partners Asia.'

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