New Delhi: Star India edged out Sony Pictures to secure the Indian Premier League’s media rights with a bid of Rs 16,347.50 crore on Monday. The bidding for various media rights of the cash-rich league was held in Mumbai for a five-year period from 2018-2022. The rights on offer were Indian sub-continental TV rights, which is the most coveted along with emerging Indian sub-continent digital rights.
There were also rest of the world media rights on offer which includes key international markets like the Middle East, Africa, Europe, USA, Australia and New Zealand.
In 2008, Sony Pictures Network won the IPL media rights for a period of 10 years with a bid of Rs 8200 crore. The global digital rights of IPL for a period of three years was awarded to Novi Digital in 2015 for 302.2 crore.
The actual estimate of the magnitude of what this figure means can be appreciated by calculating how one IPL match compares with a Team India game.
The fee for per India match is around Rs. 43 crore, whule an IPL match from here onwards will cost approximately Rs. 55 crore.
Earlier, each IPL game had the value of around Rs. 15 crore, which will now spike by three-and-a-half times to Rs 15 crore.
At the same time, the bid fades a little in comparison to the really big players in the world of sports.
The National Football League (NFL) in the US has a tag of US dollars 6 billion, while the IPL is around 500-million mark.
The Premier League football in England is marked around the US dollar 5 million mark, while the National Basketball Association (NBA) in the US has a price tag of US dollar 2.66 billion.
The American Major League Baseball (MLB)is around US dollars 1.55 billion.