Congratulations @viacom18 🤝 for winning the @BCCI Media Rights for both linear and digital for the next 5 years. India Cricket will continue to grow in both spaces as after @IPL, and @wplt20, we extend the partnership @BCCI Media Rights as well. Together we will continue to…
— Jay Shah (@JayShah) August 31, 2023
The bidding war for these lucrative broadcast rights witnessed stiff competition between three major contenders: Disney Star, Sony Pictures Network India, and Viacom18.
Ultimately, Viacom18 emerged as the victor, securing the rights for the upcoming cricketing cycle. This victory positions Viacom18 as a dominant player in the Indian sports broadcasting landscape and raises expectations for the quality of cricket coverage in the coming years.
The valuation of cricket media rights in India has been on an upward trajectory, reflecting the sport's immense popularity in the country. In a parallel comparison, the Indian Premier League (IPL) media rights for the 2023-2027 cycle reached an astonishing Rs 48,940 crore (approximately $5.2 billion) in the previous year.
In contrast, Viacom18 secured the digital rights, and Star acquired the TV rights for the IPL, setting the value of each IPL match at Rs 118 crore. Now, with Viacom18's acquisition of international cricket rights, each match's valuation stands at an impressive Rs 67.8 crore.
As cricket continues to captivate millions of fans in India and around the world, this monumental agreement between Viacom18 and the BCCI heralds a new era in the sport's broadcasting landscape.
As the first matches of this five-year cycle kick off in September 2023, the anticipation and excitement in the cricketing fraternity are palpable, setting the stage for a remarkable journey in the world of Indian cricket.
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