Recently, the Television and digital rights for the next 5 years of the Indian Premier League have been sold to two broadcasters respectively, post the profound bidding. As per reports, the prices for TV rights and Digital rights have been freezed at a towering amount of Rs 44,075 crore.
The TV rights were sold for Rs 23,575 crore, while the digital rights were sold for a huge amount of Rs 20,500 crore. Sony and Reliance-Viacom Joint Venture are pace-setters for TV and digital rights for the Indian subcontinent discretely.
The total value of IPL media rights for the 2023-27 cycle is more than three times the money that Star India paid for the rights in 2017. Last time, Star India had bought the rights for around Rs 16,347.5 crore.
For a decade, Sony Pictures Network had secured the media rights of IPL with a bid of Rs 8,200 crore in 2008. In 2015, the global digital rights of the notorious cricket league for a term of three years were sold to Novi Digital for 302.2 crore.