IPL Broadcasting Rights: The competition between Amazon and Reliance for IPL broadcasting rights is fierce. The IPL broadcasting rights for the next five years are worth Rs 40,000 crore
IPL Broadcasting Rights: The competition between Amazon and Reliance for IPL broadcasting rights is fierce. The IPL broadcasting rights are expected to fetch between Rs 40,000 crore and Rs 50,000 crore over the next five years. All the companies are striving for the most watched IPL. It is learned that Star India has acquired the rights for Rs 16,347 crore from 2018 to 2022. Competition is high between the two major companies, Amazon, Reliance and Sony.
Traditional media companies are now facing stiff competition from giants like India’s largest retailer Reliance and Amazon. The sector is preparing to bid Amazon with Sony Pictures in a bid to secure the IPL rights, the richest league in the world. With a market cap of over Rs 21,000 crore, it is estimated that Prime Videos and Sony Pictures will jointly spend $ 3 to $ 4 billion on satellite, digital streaming rights.
The IPL broadcasting rights were in the hands of the Sony Group from 2012 to 2017. In the subsequent auction, the Sony Group offered a five-year term of Rs. 11 thousand 50 crore bid was filed while Star and Hotstars together raised Rs. 16 thousand 348 crores were filed. So Sony’s broadcasting rights went to the Star Group. Reliance is in talks with other investors, including foreigners, to raise $ 1.6 billion for its broadcasting joint venture Viacom 18. It remains to be seen which company the IPL rights will eventually go to.