Newspatrolling: In a development that proves that cricket is now among the top revenue generating sports in the world, the Indian Premier League (IPL) media rights have been sold for a whopping Rs 16347.5 crore. The media rights have been sold to Star India via an auction process that witnessed 23 other top companies vying for the IPL media rights. Star India has secured the IPL media rights through a single consolidated bid. It will now have the media rights for 5 years, from 2018 to 2022. After the technical assessment process, Star India and Sony emerged as the final two contenders. However, the other companies were still eligible for digital media rights. But, later, Star India submitted a consolidated bid and got the rights for both broadcast and digital (internet and mobile) rights.
The other companies that participated in the auction of IPL media rights included Facebook, Amazon, Twitter, Yahoo, Reliance Jio, Discovery, Sky, British Telecom, and ESPN Digital Media. Speaking about the successful auction of IPL media rights, Uday Shankar, chairman of Star India, said, “We believe the IPL is a very powerful property, and we believe there is lots more value that can be created for fans of cricket on digital and TV. We would remain committed to ensure the growth of sports in this country continues to be driven by the power of cricket.”