Which company has won the coveted Indian Premier League (IPL) media rights for 2018-23?
[B] Star India
Star India acquired digital as well as media rights for Indian Premier League for a term of five years 2018-2023 with a whooping bid of Rs. 16,347.50 crore on September 4, 2017. The staggering deal has turned out to be a financial windfall for the BCCI despite the administrative crisis it is facing at the moment. The testimony to IPL’s growth as the premier sporting property of the country is reflected by the fact that the previous 10-year bid for TV rights only was bought by Sony at Rs. 8200 crore in 2008. Now, the BCCI stands to earn nearly double that amount in half the duration of five years, with earnings of Rs 3270 crore from IPL media rights per year. The BCCI will now earn Rs 55 crore approximately from an IPL match compared to Rs 43 crore, ironically, for each international match that India play. The media rights include broadcast (TV) and digital (mobile and internet) for various segments namely India, Middle East, Africa, Europe and America.