In the latest development, the Television and digital rights for the next five years of the Indian Premier League have been bagged by two separate broadcasters after intense bidding.
As per reports, the prices for TV rights and Digital rights have been pegged at a massive amount of Rs 44,075 crore. The TV rights were sold for Rs 23,575 crore, while the digital rights have gone for a whopping Rs 20,500 crore. Sony and Reliance-Viacom Joint Venture are frontrunners for TV and digital rights for the Indian subcontinent, respectively.
The total value of IPL media rights for the 2023-27 cycle is more than 3 times the money that Star India paid for the rights in 2017. Notably, Star India had bought the rights last time around for Rs Rs 16,347.5 crore.
As per reports, Sony Pictures Network bagged the media rights of IPL for a period of 10 years with a bid of Rs 8200 crore in 2008. The global digital rights of the richest cricket tournament for a period of 3 years were handed out to Novi Digital in 2015 for 302.2 crore.