Viacom18 Secures Indian Cricket Media Rights for Nearly Rs. 6,000 Crore
Viacom18 has emerged as a dominant player in the realm of Indian cricket broadcasting, clinching both TV and digital rights for the national team’s home series for the next five years. This landmark deal, valued at approximately Rs. 6,000 crore, was secured after a competitive bid against rivals Star India and Sony. Let’s delve into the details of this significant development.
Comprehensive Monopoly in Cricket Broadcasting
In a strategic move, Viacom18 has secured an enviable position in the Indian cricket broadcasting landscape. By securing both TV and digital rights for the national team’s home series, the media conglomerate has established a near monopoly in this domain, outpacing competitors in a fierce three-way battle.
Dual Rights Acquisition
Viacom18’s triumph in this competitive bid is remarkable, as it encompassed both linear (TV) and digital rights for the next five years. The company reportedly paid approximately Rs. 3,101 crore for digital rights and Rs. 2,862 crore for linear (TV) rights, resulting in a cumulative deal valued at around Rs. 5,963 crore.
A Landmark Deal
The monumental success of this deal is underscored by Viacom18’s successful acquisition of the digital rights for the Indian Premier League (IPL) for a staggering Rs. 26,000 crore. This strategic move positions Viacom18 as a significant stakeholder in the cricket broadcasting arena, with a comprehensive portfolio that covers high-profile cricket properties.
Notable Details and Impact
The newly secured rights are set to be effective from India’s three-match home series against Australia, commencing on September 22 and extending until March 31, 2028. The comprehensive deal covers a total of 88 international matches across various formats, comprising 25 Tests, 27 ODIs, and 36 T20Is.
Enhanced Value and Considerations
The per-match value of this deal stands at an impressive Rs. 67.76 crore, representing a significant increase from the previous cycle’s Rs. 60 crore per match. Despite the BCCI receiving Rs. 175 crore less than the previous cycle’s Rs. 6,138 crore, the increased per-match valuation and potential advertisement revenue from marquee matches against England and Australia contribute to the overall significance of the deal.
Challenges and Insights
The declining popularity of the One Day International (ODI) format could be attributed to the BCCI falling short of the billion-dollar mark in this deal. The broadcasting industry veterans suggest that bilateral ODI series outside of World Cup years may need reconsideration to ensure optimal revenue generation. Additionally, the proliferation of T20 leagues globally and viewer fatigue are essential factors in determining bid calculations.
Q1: When does Viacom18’s rights for Indian cricket media rights come into effect?
A: The rights are set to commence with India’s home series against Australia, starting on September 22 and extending until March 31, 2028.
Q2: What are the financial terms of Viacom18’s bid for media rights?
A: Viacom18 secured digital rights for approximately Rs. 3,101 crore and TV rights for approximately Rs. 2,862 crore, resulting in a cumulative deal valued at around Rs. 5,963 crore.
Q3: How does Viacom18’s success impact the cricket broadcasting landscape?
A: Viacom18’s dual rights acquisition positions the company as a prominent player with a comprehensive cricket broadcasting portfolio, further solidified by their IPL digital rights acquisition.
Q4: What factors influenced the BCCI’s financial outcome in this deal?
A: The declining popularity of ODI matches and the presence of 27 ODI matches in the next cycle contributed to the BCCI falling short of the billion-dollar mark.
Viacom18’s successful bid for Indian cricket media rights marks a significant shift in the broadcasting landscape, with the conglomerate poised to deliver an unparalleled cricket viewing experience to fans across the country.
