Home Cricket Sony to Evaluate Bidding for Both Broadcast and Digital Property

Sony to Evaluate Bidding for Both Broadcast and Digital Property

Sony to Evaluate Bidding for Both Broadcast and Digital Property

After the inclusion of two new groups and an enthralling mega public sale, the stage is ready for promoting the media rights for tv and digital telecast of the Indian Premier League (IPL) for 2023/27 by an e-auction, and Sony Pictures Networks India (SPNI) will consider to bid for each the properties of the cash-rich league.

The Invitation to Tender (ITT) for the IPL media rights is more likely to be floated quickly, which might be adopted by the e-auction. There was an inner debate earlier on whether or not to go for an e-auction or a closed-envelope bid, as accomplished for the current crew public sale, however lastly the BCCI determined to go for an e-auction as it’s way more clear.

Notably, the Disney-owned Star presently has the media rights of the profitable league. Star India had purchased IPL’s media rights for the present cycle, 2018/22, for Rs 16,347.5 crore.

However, the Sony Pictures Networks India (SPNI), which held the media rights for 10 years (from season 1 to 10) after paying Rs 8,200 crore, is eager to get again the property that that they had nurtured for a decade.

“SPNI will consider bidding for each broadcast and digital rights for the upcoming IPL,” the company told IANS.

Sony has expanded its bouquet after its merger with Zee Entertainment Enterprises Ltd and they are expected to bid together for the rights, and clinching the IPL property could give them a huge boost in the market.

However, the road to success for them won’t be easy as there are several other names in the fray as well. Disney-owned Star, Reliance-Viacom18 and Amazon are other big players in the market and grabbing the media rights could lead to a bidding war.

The Walt Disney Co India and Star India has already made it clear that the company won’t shy away from investing heavily and is going to be bullish on IPL rights renewal. On the other hand, there were reports that James Murdoch, son of media baron Rupert Murdoch, and Uday Shankar, former Star and Disney India chairman are planning to acquire nearly 40 per cent stake in Viacom18 and subsequently could bid for IPL media rights.

When IANS reached out to Uday for his comment on the deal, the veteran said that there is no concrete development on that front. He jokingly added that “media reports should be taken with a lot of salt”.

So, will probably be fascinating to see the following transfer of Reliance, who in current occasions has picked up the media rights of a clutch of sporting properties, together with the NBA (National Basketball Association), FIFA World Cup 2022, Spanish soccer league La Liga, Abu Dhabi T10 (cricket) and others.

Representatives of Reliance didn’t instantly reply to requests for remark.

Meanwhile, Amazon, who’s already embroiled in a retail warfare with Reliance in India, has additionally intention to wholeheartedly go for the IPL rights, having began streaming cricket occasions. They have shut to twenty million Prime customers in India and the IPL may give them a fast leap.

Notably, Amazon doesn’t have a TV channel so it may make a joint bid with one other TV community or the corporate may make a play only for the digital rights.

Overall, the bidding warfare will certainly assist BCCI in getting a windfall from the IPL media rights deal.

According to trade consultants, the mixed worth of the rights for the following five-year cycle (2023/2027) might be near Rs 50,000 crore, a giant leap from the present rights holder’s bid of Rs 16,347.5 crore for 2018/2022.

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