The Indian Premier League released parameters for auctioning off media rights this week, and they appear to be tailored to increase bids and tensions. The IPL broadcasting rights on television and streaming apps online will be sold separately for the first time. This gives a great opportunity for Bezos’ Amazon’s Prime video service to enter the market. Reliance Industries, owned by Mukesh Ambani, also have their eyes set.
The auction for the rights will be online, requiring both the parties to be real quick to bid and counter bid.
IPL broadcasting rights for 2023 -2027
The event will begin on June 12. Bets of $7 billion or more could be there. The IPL broadcasting rights for hundreds of games between 2023 and 2027 are up for grabs. There will be separate auctions to choose the winners for live streaming and broadcasting in various regions. Amazon, for example, pays approximately $1 billion a year for the rights to stream National Football League games online, but only on Thursday nights, not on weekends.
In India, cricket is a hugely popular sport and the auction is creating a lot of attention, already. Live streaming matches are a good method to reach the country’s 1.4 billion citizens. Despite being the most ambitious, Amazon and Reliance join a slew of competitors. It includes Star India, by Walt Disney Co. and it operates the Disney Hotstar streaming service. According to various sources, there’s also a newly formed media conglomerate that unites Sony Pictures and India’s Zee Entertainment Enterprises.
Separating broadcast rights from digital streaming rights allows new bidders to enter the market. In the e-auction, Amazon’s Prime video service might compete with Reliance’s Jio telecom business. Consolidated bidding will not be applicable, unlike in the past.