Star India won the media rights of the Indian cricket team’s bilateral home series as well as domestic cricket for a record global consolidated rights (GCR) bid of Rs 6,138.1 crore for a period of the next five years, till 2023.
Star India on Thursday won the media rights of the Indian cricket team’s bilateral home series as well as domestic cricket for a record global consolidated rights (GCR) bid of Rs 6,138.1 crore (approximately $944 million) for a period of the next five years, till 2023. Star India, which has retained the rights, will be paying Rs 60.18 crore per match over 102 matches to the Board of Control for Cricket in India (BCCI). Following three days of bidding, Star India won a victory over competitors including Sony Pictures and Reliance Jio. Sony Pictures, which was the second biggest bidder after Star, had bid Rs 6,118.59 crore. With this, BCCI has posted a 39% increase in per-match earnings as fee paid per domestic match, which has shot up Rs 17 crore per match. BCCI’s broadcast rights for India’s international and domestic matches is currently with Star Sports, which pays Rs 43.2 crore per match (Tests, ODIs or T20s). Calling the e-auctions a learning experience, Amitabh Choudhary, acting secretary of BCCI, said, “The earnings from domestic matches are far ahead of what the body earns per IPL match. The body earns Rs 54.49 crore per IPL match over 300 matches.” Post this, Star India holds the broadcast rights for important cricket leagues including the rights for the Indian Premier League (IPL), for which it paid a whopping Rs 16,347.5 crore ($2.55 billion) in September 2017 for the period 2018-22. Additionally, it has the telecast rights for ICC tournaments (men’s and women’s 50-over World Cup, World T20) between 2015-2023. Star had paid $1.9 billion to acquire ICC rights in 2014. “We have never hesitated in admitting that we are the biggest creator of content in India across languages. We believe it is only natural for us to be the destination of the biggest Indian sports, that is, cricket. Both IPL and these rights give us a special position,” Uday Shankar, president, 21st Century Fox, Asia and chairman and CEO, Star India, said. Star India had won the last auction for India’s home games back in 2012 as well, picking up the contract for the 2012-2018 cycle for Rs 3,851 crore.