Mumbai: The Indian Premier League (IPL) media rights value has touched Rs 46,700 crore at the end of day two of the e-auction on Monday. The rights period is from 2023 to 2027 for 410 matches.
TV rights went for Rs 23,575 crore while digital went for Rs 20,500 crore. TV will cost Rs 57.5 crore a game while digital will cost Rs 50 crore a game. There will be at least two broadcast partners.
Two different broadcasters won the TV (Package A) and digital (Package B) broadcast rights. Reports indicate that Reliance Jio has won Package B. So far, the price of the combined TV and digital rights this year is almost three times the amount that Star India had paid in 2017.
On the second day, the price of digital rights per match rose by Rs 2 crore from Rs 48 crore at the end of day one. But the price for TV rights only rose by Rs 50 lakhs a match when the bidding resumed on the second day.
There is more drama to come. The digital non-exclusive rights (Package C) that include 98 games over five years are valued at Rs 18.5 crore per match. Bidders that did not get their hands on Package A and B may make a play for Package C. If Reliance Jio is unable to win the bid for Package C it would be unable to maximise the value of the digital broadcast rights which would be a blow to its revenue.
Package D includes the media rights for the rest of the world and is set at a base price of Rs 3 crore per match or Rs 1,110 crore over five years.
The highly anticipated auction was first announced on 29 March by the Board of Control for Cricket in India (BCCI). The contenders for broadcast rights included Disney Star, Sony Pictures Networks India and Viacom18. The bidders for digital rights include Zee Entertainment Enterprises, Disney+ Hotstar and Reliance Jio. Mjunction is conducting the auction.
The IPL is the second most valuable sports property after the National Football League (NFL) in terms of broadcast price per match. The value of the media rights per match has reached almost Rs 114 crore leaving the Premier League behind which is valued at around Rs 81 crore per match. The action continues tomorrow.