BCCI Earns Astronomical Sums From IPL Media Rights Sale, Sparks Hectic Social Media Activity
The Indian Premier League (IPL) Media Rights for the next five years (2023-27) touching astronomical highs has sparked hectic activity on social media, with fans positing memes, franchises congratulating the Indian cricket board and several others saying that the BCCI should now be listed on the stock market
New Delhi, June 15 :The Indian Premier League (IPL) Media Rights for the next five years (2023-27) touching astronomical highs has sparked hectic activity on social media, with fans positing memes, franchises congratulating the Indian cricket board and several others saying that the BCCI should now be listed on the stock market. Sony was the Rights holder for 10 seasons (2008-2017) and forked out Rs 8,200 crore. And when Star bagged the rights for the next five years (2018-2022) the money almost doubled. With the financial windfall for the next cycle (2023-2027) now in public domain, and touching Rs 48,390 crore, it makes BCCI one of the richest sports bodies in the world. "Windfall for BCCI from IPL Media rights @Rs. 48,390 Cr... Let's raise a voice for listing of BCCI," tweeted a fan. IPL Media Rights: Disney Star Renew Broadcast Rights, Viacom18 and Times Internet Win Digital Rights For 2023-2027 Cycle.
IPL franchises were quick to congratulate the BCCI on the huge achievement, with the Punjab Kings co-owner Preity Zinta tweeting, "Congrats & a Big THANK U to @JayShah @SGanguly99 @ThakurArunS & everyone at BCCI & KPMG Corporate Finance -- specially Srini for this blockbuster jump in #IPLMediaRights. Today is a very special day for IPL fans, cricket lovers & for every Indian. #MadeinIndia #IPL #JaiHind."
She had been following the Media Rights proceeding with keen interest for the last few days and had tweeted hours before the final numbers were announced: "Waiting to hear the BCCI announce the new #Iplmediarights. What an incredible sports property #IPL has become! Employing thousands & entertaining billions across the globe, it's dwarfing all other sports leagues by its incredible growth & it's completely Made In India."
Renowned commentator Harsha Bhogle put things in perspective on how big a deal the BCCI had struck, saying, "To put it in perspective, the 3273cr that Viacom has paid out only to secure exclusivity for those additional 18 games (though over 5 years) is what Star was paying for all the rights per year (in 2018-2022 cycle). #IPLMediaRights." Soon after the numbers were made official, a meme fest ensued, with a fan posting an image of two burly guards sleeping on a pile of greenbacks, and wrote, "BCCI Right Now." IPL Media Rights: Viacom18 Reportedly Wins Package C For Tournament's 2023-27 Cycle.
Yet another fan pointed out the growing clout of digital platforms, given that it had helped BCCI earn Rs 23,773 crore for the next IPL cycle of five years. "#IPLMediaRights today. TV: 23,575 Cr. Digital (A+B): 23,773 Cr. The ratio of TV vs Digital over the years: 2015 -- 90:10; 2018 -- 75:25; 2022 -- 49:51. For the last one decade we kept hearing that Digital is the future. I guess, the future is here!" wrote a fan.
(The above story first appeared on LatestLY on Jun 15, 2022 01:48 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).