Media players continue to bet big on India cricketing rights

economictimes.indiatimes.com:

cricketing rights in India even as increasing live-streaming viewership and splitting of TV and digital rights between different entities make monetisation of cricket events a challenge.Disney Star, Sony-Zee, Viacom 18, and smaller media players are expected to invest more than $11 billion on marquee cricket properties during the 2023–2027 cycle, officials and analysts said. “Cricket continues to attract huge investments since it guarantees eyeballs,” said Rajesh Kaul, head of sports business at Sony Pictures Networks India (SPNI).

“It also holds strategic value for rights holders since it drives the growth of both OTT and TV businesses,” he said. The Indian Premier League (IPL) and the International Cricket Council (ICC) have recently sold five-year and four-year media rights for the Indian market at $6.2 billion and $3 billion, respectively.

Industry experts are optimistic that the media rights of the Board of Control for Cricket in India (BCCI), which are soon to be put up for bidding, could generate more than Rs 10,000 crore, or $1.2 billion at the current exchange rate. The media rights of Asian Cricket Council (ACC), which conducts Asia Cup and some other tournaments for Asian teams, are also up for renewal this year.

Furthermore, prominent cricket rights outside of India, such as those for Cricket Australia, Cricket South Africa, and the England Cricket Board, have been acquired by Disney Star, Viacom 18 and Sony for about $500–600 million. Bhairav Shanth, cofounder of leading sports, entrainment and media consulting firm ITW Consulting, said live sports will continue to see big investments in sponsorship as well as media rights.