Star India has acquired the TV and digital broadcast rights of Indian Premier League for the 2018-22 slot. Star India edged out Sony Pictures to secure the Indian Premier League’s media rights with a bid of Rs 16,347.50 crore on Monday.
The bidding for various media rights of the cash-rich league was held in Mumbai on Monday. Bids were called for television and digital rights across categories that separate the Indian sub-continent from other regions, that include: USA, Europe, Middle East, Africa regions and the rest of the world.
In 2008, Sony Pictures Network won the IPL media rights for a period of 10 years with a bid of Rs 8200 crore. The global digital rights of IPL for a period of three years was awarded to Novi Digital in 2015 for 302.2 crores.
The fee for per India match is around Rs. 43 crores, while an IPL match from here onwards will cost approximately Rs. 55 crore.
“IPL is a very powerful property… We would remain very committed to the growth of sports in the country and hope it would be driven by the power of cricket.”CEO of Star, Uday Shankar, said in a press conference.