The TV broadcasting rights and digital rights have been sold for a cumulative price of Rs 44,057 crore, as per industry sources. It is believed that Package A (TV rights) and Package B (digital rights) have been bagged by two different media companies, names of whom are yet to be revealed. The Board of Control for Cricket in India (BCCI) commenced the e-auction of Indian Premier League (IPL) media rights on Sunday.
The Package A which consisted of TV broadcast rights in the Indian subcontinent had a base price of Rs 49 crore per game. This base price is believed to have gone up to Rs 57.5 per game. Similarly, Package B, which entailed, digital rights was set at a base price of Rs 33 crore per game, has already clocked a 47.9% rise to stand at Rs 50 crore per game. It is understood that at the end of day one, TV broadcast rights stood at Rs 23,575 crore while digital rights were worth Rs 20,500 crore for five years.
It is understood that Package C is worth Rs 1,700 crore at the end of day two. The package had a base price of Rs 1,440 crore, hence, the price has increased by 18.05%.
It is to be noted that the information has not been officially confirmed by the BCCI.
Further, the bid for Package D (International rights) will resume tomorrow along with continuation of Package C. To give perspective, Package C has been introduced for the first time and offers only 18 games with non-exclusive rights. This package is set at Rs 16 crore per game, amounting to Rs 288 crore per year and Rs 1,440 crore for five years. Package D, on the other hand, is international broadcasting rights which comes at a base price of Rs three crore per game with the combined value coming to Rs 1,110 crore for five years.
This is a developing story…