India’s prominent media companies, such as Disney Star and Viacom 18 owned by Reliance, are closely monitoring the activities of the Board of Control for Cricket in India (BCCI). Today, the BCCI is convening an Apex Council Meeting to make important decisions, including the allocation of media rights worth over a billion dollars.
It is expected that the BCCI will finalize the distribution of media rights for India’s bilateral cricket matches, potentially covering the next four years. As the broadcasting rights held by Disney Star expired in March, there is currently no broadcaster for India’s bilateral games.
BCCI Secretary Jay Shah announced that the tender for media rights will be released soon, with the aim of concluding the process by the end of August.
However, industry experts confirm that the tender has not yet been made available. They estimate that the media rights of the BCCI could generate more than Rs 10,000 crore (approximately $1.2 billion). Major media companies like Disney Star, Sony-Zee, Viacom 18, along with other smaller players, are projected to invest over $11 billion in premier cricket events during the 2023–2027 cycle.
In 2018, Star Sports India secured the BCCI media rights, surpassing Reliance and Sony with a bid of Rs 6138.1 crore. The rights were granted for the period from 2018 to 2023. Disney Star currently holds the rights to broadcast and stream matches on television and digitally for all ICC events. They also possess the rights for the Asia Cup until this year.
This year, the BCCI made a significant decision to split the television and digital rights of the Indian Premier League (IPL) from 2023-2027. This move resulted in a total revenue of Rs 48,390 crore from Disney Star and Mukesh Ambani’s JioCinema. Disney Star obtained the TV rights for Rs 23,575 crore, while Viacom 18 secured the digital rights for Rs 23,758 crore.
Industry experts believe that media companies will approach bidding for BCCI media rights with caution, as they have already committed a substantial amount, approximately $9 billion, towards IPL and ICC rights.
The BCCI is now faced with the challenge of determining how to package the rights for India’s future bilateral series. Some experts estimate that the value of these rights could exceed Rs 15,000 crore (nearly $2 billion) for the next four to five years, depending on the format mix (Tests, ODIs, and T20Is) of future fixtures.
BCCI is also considering the option of conducting an e-auction or exploring other methods for selling the rights. Additionally, there is speculation that the BCCI may separate the rights for men’s and women’s cricket, following the launch of the Women’s Premier League, which holds commercial significance.
Jay Shah has confirmed that the sale of media rights will commence in July, and the tender will be released sometime this month. However, it was previously reported that BCCI was awaiting the conclusion of the ZEE-Sony merger before opening the bidding process. Unfortunately, a recent Sebi order has disrupted the merger, creating a setback for the creation of a $10 billion media giant.
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Basant Kasayap is an entertainment aficionado who delves into the glitz and glamour of the entertainment industry. From Hollywood to Bollywood to regional cinema, she offers readers an insider’s perspective on the world of movies, music, and pop culture.
