IPL Media Rights Auction: Sony, Zee Among 7 Companies In The Race To Bid In Auction
Published - 12 Jun 2022, 01:11 PM | Updated - 23 Aug 2024, 12:08 AM
BCCI is all set to auction the IPL media rights for the window 2023-27 and many big companies are set to bid for the rights. A total of 7 big companies are going to participate in the auction. For the first time, BCCI is conducting an E-auction for IPL media rights.
The E-auction process begins on Sunday (June 12) at 11 am. A total of 12 companies had earlier grabbed the Invitation To Tender (ITT) from BCCI. However, five have opted out of the bidding race and only 7 companies are going to lock heads to grab the Indian Premier League media rights.
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Also Read: IPL Media Rights: BCCI Expects A Good Auction In Absence Of Global Giants Amazon, Facebook
Sony, Zee, 5 Other Companies Set To Bid For IPL Media Rights
7 big companies that are set to battle in the bid for IPL media rights are Zee Group, Sony Pictures, Viacom-led JV, Disney+Hotstar, Culver Max Entertainment, Times Internet, and Fun Asia. E-commence and digital streaming giant Amazon had bought the Invitation to Tender from BCCI earlier, but they have decided to stay away from the bid.
IPL media rights for the 2023-27 cycle has four separate buckets of right. It includes the TV rights for India, digital rights for India, non-exclusive set of 18 matches for digital (India), and the rest of the world.
Also Read: India’s Biggest Industrial House Could Get IPL Digital Media Rights For 2023-27 Cycle – Reports
IPL Media Rights’ Reserve Price Stands At Rs. 36,000 Crores
The reserve prices for all the buckets are as follows. The reserve price for TV rights for India is Rs. 18,130 crores. The reserve price for digital rights for India is Rs. 12,210 crores. For 18 non-exclusive matches, the reserve price is 1440 crore. For the rest of the world category, the reserve price is Rs. 1110 crore.
BCCI earlier informed bidders to consider an average of 74 matches per season for five years i.e. 370 total matches. However, later BCCI revised the number and now told the bidders to consider 74 matches for 1st and 2nd years. 84 matches for 3rd and 4th years, and 94 matches for 5th year.
Hence, revising the total number of matches to 410. Earlier, the collective reserve price of the IPL media rights was Rs. 32,890 crores. However, after the revised number of games, the current reserve price stands at Rs. 36,000 crores.
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