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Indian T20 League (Image source- Twitter)
According to reports, the ongoing e-auction for Indian T20 League Media Rights for the 2023-2027 cycle has reached the milestone of INR 100 crore per match. According to the most recent updates, the broadcast rights for the following five-year cycle have been sold for a massive INR 23,575 crore.
An intensive bidding battle between two companies (names withheld) culminated in the breaking of the 100cr mark. The non-exclusive special package (base price INR 18 crore) and the Rest of the World package (base price INR 3 crore) are yet to be auctioned. The Indian Cricket Board (BCCI) established a base price of 90 crores for all broadcasting packages, which comprised TV Rights, Digital Rights, Non-Exclusive Digital (18 matches), and Rest of the World.
The television rights have been sold for INR 23,575 crore for a cost of INR 57.5 crore for each game. Digital rights were auctioned for INR 20,500 crore, with each match costing INR 50 crore. Packages A and B have different winners. According to reports, Sony, which was the first broadcaster until 2017, stunned everyone by regaining the media rights. However, no formal confirmation has been made. The winners of Digital rights are reported to be held either by Jio or Hotstar.
A minimum of 410 matches will be played throughout the India T20 League 2023-2027 cycle. At the present rate of INR 100 crore each game, the tournament's worth will exceed INR 41000 crore.
"The bidding action will be a bet on the India story over the coming decade. Bidders are putting money on the promise that data-consuming Indians will dictate the fortunes of every business, from retail to banking, and from travel to education," Karan Taurani, a media analyst at Mumbai-based Elara Capital, earlier said.
The Indian Cricket Board has previously received INR 16347.50 crore from Star Sports and Disney+ Hotstar for the 2018-2022 cycle. The media rights auction, which began on June 12th, is already on its second day. The final revelation of all the package winners is yet to be made by the Indian Cricket Board.