Mind Blowing Deal For IPL

The IPL which is broadcast around the world is hugely popular for its mix of sport and showbiz with a number of teams fronted by big Bollywood names

Social network giant Facebook's Rs 3,900 crore bid for digital rights turned out to be the day's surprise.

Several companies were eligible for the digital bids, including Facebook, Jio, Follow-On, Airtel and Supersport, among others. We shall pay Rs 53 crore per game.

Restricting the duration of high-value contracts to five years and being transparent in the tendering process has proved to be a fruitful exercise for the BCCI, which has raked in close to INR 20,000 crore (approx United States $3.12 billion) across three mega deals sealed in the past six months - Monday's record-breaking IPL rights deal included.

During this bidding process, as many as seven rights were up for bidding.

After bagging the most lucrative bid in with the world of cricket, Star India is now looking towards Indian cricket and if reports are to be believed they will go all out to net Indian cricket after their current deal is set to expire in 2018. "But if that happens, it will be one of the world's most exciting digital markets". The increase in bandwidth and connectivity for all the major digital players have also helped.

Totally 24 companies have participated and shown their interest in buying media rights from the Board of Control for Cricket in India (BCCI).

Uday Reddy, CEO, Yupp TV, an Atlanta headquartered OTT player, which also marked its maiden entry into the IPL media rights bidding, said: "We were bidding for the overseas rights for markets such as USA and the Middle East where we follow a subscription model". The bids were divided into two different platforms the television and the digital platform, for the Indian market. "Companies want to invest in scaling up their offerings", said Varun Gupta, Duff & Phelps Managing Director. While the final bidding process was slated to take place on August 28, BCCI pushed the media rights auction date for IPL to September 4 in the wake of a case pending in the Supreme Court. Not even Sony, which held the rights for the last ten years.

"We believe that Indian sports have barely scratched the surface of its potential", he said in a statement. The value of that deal is approximately $600m for a total of 96 matches - around $6.7m per fixture.

The media rights include broadcast and digital (mobile and internet) for segments -India, Middle East, Africa, Europe and America.

Over the last three IPL seasons, Hotstar broadcast the matches with a five-minute delay.

"Despite the off-field issues of BCCI, watching a cricket match in India remains an awesome experience", Shankar said.

Explaining the strategy of going for the Global Bid that clinched the deal for Star, Shankar said the idea was to create a complete experience for fans. Facebook was also among the digital rights bidders, offering about $619 million. It can become a lot more exciting depending on data prices. But in every category, it has been so competitive.

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