IPL media rights: BCCI opts for E-Auction for the first time, Seven big firms in focus

The Board of Control for Cricket in India (BCCI) holding an E-Auction for the first time to bag the media rights for the Indian Premier League for the next five years from 2023 to 2027. The previous auction for media rights in 2017 yielded a massive bonanza for BCCI as Star India had to pay a record sum of INR 16,347.5 crore (US$ 2.55 billion approx. then) to bag the IPL rights for five years (2018-22).

It has to be noted that previously, there was closed bidding in 2017, however, now it has changed to bidders making separate bids for different packages. The participants will be the ones to decide whether or not to continue bidding for the media rights after a particular stage.

BCCI is expected to have a high percentage of revenue out of it as well. After all, Viacom-led JV, Disney+Hotstar, Culver Max Entertainment early Sony Pictures, Zee Group, Supersport, Times Internet and Fun Asia are the notable seven firms to come to the bidding table according to reports from TOI.

E-Auction to take place in separate four buckets

Meanwhile, the E-auction gets underway on June 12 (Sunday) at 11 AM and it will take place in four separate buckets (A, B, C, and D). A will be for Tv (India), B for Digital India, C for Non-Exclusive set for 18 matches for digital (India) and D will be for the Rest of the World. The base price for each package starts from Package A – Rs. 49 crore per match, Package B – Rs. 33 crore per match, Package C – Rs 11 crore per match and Package D- Rs. 3 crore per match.

Since the number of IPL matches has become 74 after the inclusion of two new teams this year, INR 32,890 Crore is the reserve price considering the next five years. However, the board has made some changes with 74 matches for Year 1 & 2, 84 matches for Year 3 & 4 and 94 matches for Year 5 – revising the average total to 410 matches, according to the latest reports from TOI.