IPL media rights e-auction highlights: Day 1 bid for TV, digital ends at ₹43,050 cr
BCCI began the online bidding for the rights from Sunday, treasurer. Catch all updates here
The IPL media rights value for the 2023-2027 cycle has gone past ₹42,000 crore and is expected to go even higher, as per reports. This is nearly three times more than what Star India paid in the year 2017.
Day 1 bidding for both TV, digital ends at ₹43,050 cr
Day 1 of the IPL media rights auction for both TV and digital ended at ₹43,050 crores on 12 June, reported news agency ANI.
Bids hike up to ₹42K cr for both package A, B
IPL media rights auction bids hike up to ₹42,000 crores for both Package A and B. The bids per match (India) have reached ₹100 crores for TV and digital, reported news agency ANI on 12 June.
Winners likely to be announced on 13 June
The winners of the IPL Media Rights will be announced on 13 June after the entire bidding process is complete, which includes bundles C and D. As per estimation, IPL media rights have crossed ₹40,000 crore so far.
Only bidding amount to be visible
The bidders who are participating in the e-auction can only see the amount in the screen,however the the names will not be disclosed during the process.
Lalit Modi's tall claim: ₹75,000 crore for IPL media rights
I predict that this new IPL media rights tender will fetch close to 8 to 10 billion dollars. I believe this is the value of a genuinely global and world-class product.
IPL bidders get ready for auction amid speculation
In the just-concluded IPL season, ad rates for a 10 second spot ranged between ₹15 lakh and ₹18 lakh. A TV network executive said if the cricket property is sold at ₹40,000 crore for five years, the winner would have to sell the advertising spots for ₹50 lakh per 10 second. Read more
Base Price is more than ₹32,000 crore
The last time, Star India bought rights for both TV and digital with a composite bid of ₹16,347.50 crore but this time the composite base price is more than ₹32,000 crore.
Battle for the Digital
Dream11, FanCode while Sky Sports (UK) and Supersport (South Africa) will be vying for overseas TV and digital rights.
Hottest property in cricket
"IPL is the hottest property in cricket and it has just been expanded to a 10-team tournament, which means there will be more matches," Dhumal said. "All of it should reflect in the value of the new media rights, which we expect to be significantly higher than our previous deal."
M-Junction is conducting the IPL media rights auction
E-auction agency M-Junction is conducting the IPL media rights auction
Categories of IPL media rights
There are four categories for which bidding will take place
They are
Package A - ₹49 crore per match
Package B - ₹33 crore per match
Package C - ₹11 crore per game
Package D - ₹3 crore per game