To offer some perspective, the first three matches of IPL earlier this year had reached over 185 million viewers, according to data provided by Broadcast Audience Research Council, a real-time television ratings measurement system in the country. As per the deal won by Star company, BCCI will gain Rs 55 Crores per every match for next five years.
The IPL rights deal is now the most expensive in cricket, with Star India paying virtually INR 55 crore (approx USA $8.47 million) per IPL match. But its bid was bested by Star India, which made a combined $2.5 billion bid for worldwide digital and TV rights.
Shankar drove home the point that, as Star had a strong presence in TV and was also the owner of a robust digital platform (Hotstar), it made sense for the company to get complete rights of IPL. After technical evaluation on Monday, only Star and Sony Pictures Network were announced eligible as final bidders. Even for the India subcontinent digital rights, individually Star (Rs1,443cr) bid less than Airtel (Rs3,280 cr), Times Internet (Rs 1,787.50cr), Facebook (Rs 3,900 cr), and Jio (Rs 3,075.72 cr).
The fourth truth is that the digital value of IPL will see a boost.
But right now there is some doubt surrounding Perform Media and BeIN Sport, so the companies of IPL team are yet to receive a full confirmation, of the same.
After bagging the most lucrative bid in with the world of cricket, Star India is now looking towards Indian cricket and if reports are to be believed they will go all out to net Indian cricket after their current deal is set to expire in 2018.
"Our BCCI rights get over in less than six months and the Indian team, over the next few years, is going to be travelling overseas so much, and we don't have the England and Australian board rights".
"Even if it was slightly less, we would have not got the rights and that should tell you that this is the right figure", Shankar said. "The IPL is a very powerful property", he said. Star India, which was the only one to submit a global bid, will have to pay Rs 54.5 crore per match, making IPL the costliest cricket property in the world.
Meanwhile, the man credited with conceiving IPL, Lalit Kumar Modi, now living in exile in the United Kingdom, tweeted, "So, Star Sports wins the global rights for IPL".
Shankar said Star sees its bid more as a five-year investment than a one-time deal that has to be immediately profitable.
"We would remain committed to ensure the growth of sports in this country continues to be driven by the power of cricket", he added. Ambitious as with all things Lalit, the BCCI should target such an amount and more come 2022 when the rights will be up for grabs yet again.
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