MUMBAI: The sports media market will continue to attract more global investments due to the high potential growth according to a report by consulting company Deloitte.
There has been plenty of foreign capital flowing into the sector, which also brought in a wave of consolidation in the sports broadcasting space.
The best examples are Sony Pictures Networks India acquiring Ten Sports from Zee Entertainment Enterprises for USD 385 million and Star India bagging the global media rights for the Indian Premier League (IPL) for 2018-22 for a whopping Rs 1,634.75 crore after a bidding that saw as many as 24 players in the fray.
"The sports media landscape is evolving rapidly, especially in terms of who creates the content and who has the right to distribute them," the report stated.
"These entities who have made the bids are not primarily in the sports broadcast business but put value on the table to acquire digital broadcasting rights of IPL. This proves the global appeal of Indian sports which is now identified as a potential growth area by global sports giants," it added.
With the huge popularity of the IPL, there is a significant place for domestic sporting leagues in other sports and some like football and kabaddi have already generated interest, it said.
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