Amazon and Reliance vying over Indian Premier League’s telecast rights

By Nikita Chaurasia  | Date: 2022-02-21

Amazon and Reliance vying over Indian Premier League’s telecast rights

Amazon's rivalry with India’s Reliance Industries has now extended to the cricket field, where the two companies are reportedly vying for telecast rights to the Indian Premier League (IPL), which has hundreds of millions of avid fans.

Reliance Industries Ltd. and Amazon.com Inc. have been planning to acquire Indian units of Walt Disney Co. and Sony Group Corp. for digital broadcast and TV rights to the two-month-long cricket match series. The contract, which will be valid for five years could cost up to USD 6.7 billion, cited sources familiar with the matter.

Anton Rublievskyi, Chief Executive Officer of Parimatch, a betting company that advertises at the IPL, was quoted saying that cricket is the second most popular sport globally, with over two-and-a-half billion fans, and IPL is equivalent of the Super Bowl.

Meanwhile, Disney’s Star India, which is one of India’s leading broadcasters along with Sony and Zee Entertainment Enterprises Ltd., reportedly paid USD 2.19 billion for buying the series’ digital and television rights till 2022. Remarkably, the league's matches had a massive 350 million viewership in the first half of the 2021 season alone.

According to sources, Reliance has its sights set on winning this bid, as it is crucial to the company’s long-term plans revolving around digital expansion and its Jio platform. The oil to retail conglomerate is also in discussions with investors to raise around USD 1.6 billion for its broadcasting venture, Viacom18.

On the other hand, Amazon, whose Prime Video platform recently took to live-streaming cricket matches, seeks to acquire IPL rights to expand its customer base.

Industry sources expect the BCCI to take flexible decisions given the prospects of record payments that it will receive from bidders including a strong digital-only player like Amazon. However, there have been questions about the steep surge in the cost of the rights and whether it will remain sustainable in the upcoming years.

Source Credits –

https://www.livemint.com/companies/news/amazon-reliance-set-to-lock-horns-over-india-s-cricket-media-rights-11645353624943.html

About Author

Nikita Chaurasia     aeresearch.net

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More >>

More News By Nikita Chaurasia

L&T Technology Services partners with Qualcomm to amplify 5G adoption

L&T Technology Services partners with Qualcomm to amplify 5G adoption

By Nikita Chaurasia

L&T Technology Services Limited has recently announced that it is teaming up with Qualcomm Technologies, Inc., the world’s leading wireless technology innovator. With the latest collaboration, the firm plans to offer end-to-end solutions...

PNAS, Straive partner to deliver end-to-end content production services

PNAS, Straive partner to deliver end-to-end content production services

By Nikita Chaurasia

Renowned U.S.-based nonprofit and non-governmental organization, NAS (National Academy of Sciences), has reportedly collaborated with Straive, one of the leading technology-driven solutions providers for Content, EdTech, and Data. With this acquis...

Japan pushes innovations in 'deep tech' sector with solar cell technology

Japan pushes innovations in 'deep tech' sector with solar cell technology

By Nikita Chaurasia

Amid the most promising next-generation solar cell technology innovations, Enecoat Technologies, a provider of materials development services in Japan, is reportedly developing perovskite. Following its completion, the Kyoto-located start-up expec...

GIC to acquire majority shares in opulent Sani/Ikos properties

GIC to acquire majority shares in opulent Sani/Ikos properties

By Nikita Chaurasia

Singapore's sovereign wealth fund, GIC has agreed to pay around $2.2 billion to buy a majority stake in Sani/Ikos Group, a Mediterranean luxury resort operator, marking the largest transaction in the European resort market since the Covid-19 pand...

Excelra, Patcore partner to offer enhanced digital insights to customers

Excelra, Patcore partner to offer enhanced digital insights to customers

By Nikita Chaurasia

Excelra, a data and analytics solutions provider, has recently announced its partnership with Patcore, Inc., to provide better access to its analytics products and scientific data for customers in Japan. For the unversed, Excelra is one of the top...