Viacom 18 has acquired broadcast and streaming rights for BCCI’s bilateral series from September 2023 to March 2028 for a cumulative figure of Rs.5,963 crore. The rights cover 88 international matches.
The deal happens to be Viacom’s first large scale sports acquisition for linear TV. On OTT, the content adds to its streaming rights for IPL. The TV rights for IPL and ICC World Cup are with Star and Zee respectively.
The bidding for the BCCI bilateral rights involved three players – Sony, Disney and Viacom18 – and premium on this property was estimated to be lower than IPL. As part of the process, an e-auction was conducted on August 31, 2023, wherein all eligible bidders were permitted to participate to determine the successful bidder.
Ernst & Young was strategic advisor for the BCCI media rights wile Argus Partners was legal advisor and Mjunction Services provided the platform for the e-auction.
Roger Binny, President, BCCI, said, “The recent BCCI e-auction has unequivocally demonstrated the vigour of cricket in India. The remarkable journey of Indian cricket, its meteoric rise on the global sporting arena, owes its success to the unwavering trust that people have vested in the BCCI leadership and its dedicated workforce. With the staunch support and collaboration of every stakeholder within our cricketing ecosystem, I am confident that we will continue to propel the brand BCCI to uncharted territories on the global sports stage.”
Jay Shah, Honorary Secretary, BCCI, said, “It fills me with immense joy and a profound sense of pride to witness the remarkable growth of brand BCCI. Today’s e-auction has propelled BCCI into the upper echelons of per-match media rights valuation, marking a monumental stride in our journey. Throughout this process, we have steadfastly upheld the principles of transparency and fairness, ensuring that all stakeholders are treated equitably. I extend my heartfelt congratulations to Viacom18 for emerging successful in the e-auction, and I express my sincere gratitude to all the bidders who participated in this process. Their involvement underscores the industry’s confidence in India Cricket. I also want to acknowledge the role of market forces in reinforcing their belief and trust in us.”
“Our underlying goal remains to strike a harmonious equilibrium between cricket and commercial interests. BCCI remains deeply committed to nurturing sports development in India through the medium of cricket. The revenue generated from media rights is an essential catalyst for nurturing grassroots cricket across the nation – a cause that resonates deeply with us. It’s the legacy we leave behind and the positive impact we create in our country’s cricketing ecosystem that truly matters,” he added.
The cost of per match on TV was closed at Rs.3.25 cr while cost of per match on digital was Rs.3.52 crore – with digital garnering 8 pc higher on a per match basis.
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