Reliance Industries Chairman Mukesh Ambani could enter the market of cricket broadcasting rights through his subsidiary Viacom 18. In such a scenario, the International Cricket Council (ICC) hopes to see a good deal of competition in the auction process of broadcasting rights starting next year.
The ICC has decided to auction the media rights to its events separately for the Indian subcontinent. It is hoped that if we add up the value of all the cricket markets in the world, more money will come from the Indian subcontinent.
The ICC also hopes that with the entry of Reliance Industries owner Mukesh Ambani into the market, the bid for media rights will become even bigger. It has so far seen a price war between Star, Disney India and Sony Pictures Networks India.
The process of auctioning the media rights of the Indian Premium League (IPL) is about to begin. Once the BCCI completes this process, the ICC will begin the process of media rights. The ICC had planned to start the process in November, but changed its mind after the BCCI announced it would begin the process of auctioning the IPL’s media rights by the end of this year.
Click for video -:
The price could be as high as 7 1.7 billion to 1. 1.8 billion
Media rights in the Indian subcontinent are estimated to be worth between 7 1.7 billion and 8 1.8 billion. The eight-year rights will include two ICC Men’s Cricket World Cups (2027, 2031), four Men’s Twenty20 World Cups (2024, 2026, 2028 and 2030), two Champions Trophy (2025, 2029) and four World Test Championship finals. . These tests will be in 2025, 2027, 2029 and 2031.
The official said there would be fierce competition for rights between Star and Disney, Sony Pictures Network and Reliance Industries’ Viacom 18. Amazon and Facebook could also enter the field of broadcasting rights as they seek to expand their video business in India.