The Indian Premier League’s media rights e-auction for the 2023-2027 cycle kicked off on Sunday, with sources claiming that the total bid for TV and digital rights has reached Rs 43,050 crore. In this article, we talk about IPL TV rights And Digital Rights.
There are four different packages in which an e-auction will be held for 74 games every season over a five-year period from 2023 to 2027, with the possibility of expanding the number of games to 94 in the final two years. The procedure has been broken down into four distinct packages (A, B, C, and D). Package A is just for TV in the Indian subcontinent, whilst Package B is only for digital in the same region. Package C includes digital space for 18 games from each season. All games in Package D will have combined TV and digital rights for international markets.
This time, all bidders were required to submit separate bids for each package. Bidders for Package A must have a net worth of Rs 1000 crore, while those bidding for other packages must have a net value of Rs 500 crore. On Sunday, the IPL media rights auction began with the sale of packages A and B, which included TV and internet broadcast rights.
The IPL has offered winners of individual categories an incentive to match the winning bids for certain packages. For example, the winner of Package A will be given the option to offer 5% more than the highest bid for Package B within a certain time frame. After that, the winner of Package A and the highest bidder for Package B will be locked into a bidding war with minimum incremental bids of 5% over the prior bid. This procedure will continue until the highest bidder has been selected.
On Friday, Amazon announced its withdrawal from the Indian Premier League‘s media rights auction.
With a bid of Rs 16,347.50 crore in September 2017, Star India beat out Sony Pictures to secure the Indian Premier League’s media rights for the 2017-2022 season. The cost of an IPL match had risen to roughly Rs 55 crore as a result of this agreement.
