Ambani’s Viacom18 Bags BCCI Media Rights For Next 5 Years: For the next five years, Viacom 18 has secured the media rights (both digital and television) to broadcast India’s domestic matches as well as all domestic tournaments held by the BCCI. They won in the auction bid placed on August 31, 2023. The Reliance-owned media company, which also owns the digital rights to the Indian Premier League (IPL), has gotten a boost from this.
With an agreement that includes INR 67.8 crore for each game, the newcomer, which telecasts live action on the Jio Cinema and Sports 18 television (Viacom) channel, has secured both digital and television rights.
The final figure satisfies the BCCI’s requirement that the total value surpasses Rs 60 crore and is around Rs 7.8 crore more expensive than the price of the value of the previous cycle. Viacom18 will collectively pay Rs 5963 crore over five years, backed by Mukesh Ambani-led Reliance Industries and controlled by Uday Shankar, who transformed the Indian television sector while leading Star India.
Jay Shah Congratulates Viacom
The BCCI had earlier this month published the tender for the media rights for the five-year term from 2023 to 2028. On Thursday, August 31, the media rights were put up for sale. The media rights to both television and digital platform streaming of the matches were up for grabs.
According to reports, the BCCI also attempted to court global internet behemoths Amazon and Google, but they declined to compete for the rights. The BCCI also put in place a “free for all” regulation that stipulated that the bidding process would continue until only one party was left at the table in an effort to secure a profitable agreement. Collaborations were also permitted to participate in the bidding process by the BCCI.
The BCCI offered two distinct packages when selling the media rights. The base cost of Package A, which included TV rights, was Rs. 20 crore. On the other hand, the base price for Package B, which included digital rights, was fixed at Rs. 25 crore.
Prior to now, Disney Star owned the media rights for both the TV and the internet platform. Viacom18 has now secured both of the home game rights for Team India for the ensuing five years.
“Now, it is seeming reasonably clear with the deficit of monsoons, already reported at 30%, even if kharif sowing is good, kharif productivity might get impacted. And with this el-nino effect, still not having fully played out, we still have to watch for the specter of food inflation. There will be pressure in terms of food inflation, headline inflation will get mitigated because of the various steps that the government will take but food inflation is still a cause for concern,” Narayanan told reporters.
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