Star India wins all broadcast rights for Vivo IPL for Rs 16347.50 crore
Bringing end to all speculations, Star India has won the television broadcast rights for Vivo IPL
Published - Sep 5, 2017 1:38 PM Updated: Sep 5, 2017 1:38 PM
Bringing end to all speculations, Star India has won the television (India and Rest of the World) and digital broadcast rights for Vivo IPL for Rs 16347.50 crore. The fight for the rights was primarily speculated to be between Star India and Sony Pictures Networks. Star India made the single biggest bid for the broadcast rights.
14 out of 24 companies had participated: beIN Sports, SuperSport, YuppTV, Times Internet, Gulf DTH, Facebook, Airtel, Star India, BAM Tech, Sony Pictures Network, Econet Media Group, Perform Group, Followon Interactive Media and Reliance Jio. BAM Tech got disqualified BAM Tech is disqualified because a lot of fundamental documents were missing from their bid.
Amazon , Taj TV , Gulf DTH, Group M, Media India, Sky Uk Ltd, ESPN Digital Media, BTG Legal Services, BTPLC , Twitter, Discovery didn’t submit the bids.
Early in 2008 Sony acquired IPL rights for 10 years for $918 million. Then again in 2009 the company re-acquired rights for $1.63 billion for 10 years after renegotiation. In February 2015, Star India had got the internet and mobile rights for three years for Rs 302.2 crore.
According to Duff & Phelps, a global valuation and corporate finance advisory IPL, in its tenth year, is worth Rs 34,000 crore ($5.3 billion) and has posted a 26 per cent increase in its overall business from Rs 27,000 crore ($4.2 billion) last year. The league has seen a three-year CAGR (compound annual growth rate) of 13.9 per cent.
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