The IPL ecosystem value has fallen from Rs 92,500 crore in the previous edition to Rs 82,700 crore in this edition, reveals a report by D&P Advisory titled, ‘Beyond 22 Yards 2024-IPL’s Legacy and WPL’s Vision’ This decrease of around 10.6% comes despite the league’s unyielding allure which continues to attract audience across television and digital platforms.
Reportedly, publishers have already factored in the expected surge from the media rights renewal. For the first time in 2022, the Board of Control for Cricket in India (BCCI) made the decision to bifurcate the media rights for TV and digital platforms for upcoming cycle five years from 2023 edition of the tournament. , “We anticipate certain demand-side constraints in the next IPL media rights cycle auction due to a decrease in several potential bidders. Several significant developments from the past year have led us to revise our media rights value estimates,” Santosh N, managing partner, D&P Advisory said.
As per the report, key developments which led to revise IPL’s media rights value estimates includes the failed merger between Zee and Sony, which impacted market dynamics. In addition to that, the merging of Reliance-owned Network18 and Disney owned Star India has created monopolistic control over television and digital broadcasting. Furthermore, the delay in the entry of major tech players such as Amazon, Meta and Apple into the IPL media rights arena exacerbated the situation.
It is mentioned in the report that compared to the previous edition, the WPL ecosystem’s value has increased from Rs 1,250 Crore to Rs 1,350 Crore, marking an 8.0% rise. Reportedly, the league has consistently been a blend of cricket, business, and entertainment, and this year was no different. It continued to captivate audiences across both television and digital platforms.
From what it is understood, the future of media rights for major sporting events like the IPL has been increasingly shifting towards digital platforms rather than traditional television broadcasting as they cater to modern viewers’ preferences for on-demand and personalised content consumption. It is believed that, if tech giants like Amazon, Google, Apple, and Meta enter into the IPL broadcasting arena, it could further revolutionise sports media in India, as they leverage their digital infrastructure to enhance the viewing experience and innovate content delivery.