CHENNAI: Even though the BCCI was expecting a record deal, figures coming out of Mumbai’s Taj Mahal Hotel after the awarding of IPL media rights on Monday were abnormal, by conservative estimates.
In an environment of global economic uncertainty as well as in India, Rs 16,347 crore is a staggering amount.
Other than marvelling at the numbers, experts also noted the rise in stature of the digital sector. Star India had bought the internet and mobile rights from 2015-17 for Rs 302 crore.
For 2018-22, the highest bid for this segment was Rs 3900, by Facebook. Star bagged this one also despite quoting Rs 1443 crore, for their highest overall bid, but there were two more bids of over Rs 3000 crore for digital rights. That’s a rise of at least 600 per cent.
“Considering the slowdown in economic activities overall, values of IPL media rights present a contrasting picture. A rise in prominence of the digital sector is the highlight for me,” noted image management specialist and policy professional Dilip Cherian told Express.
“Taking into account figures related to the digital property from the previous period, we can see a huge jump in this segment.”This is a new trend and this is the first time that the BCCI is reaping its benefits. Earlier, an overwhelming majority of its revenue came from TV rights. “Digital space has grown rapidly in the last three-four years. I’d be interested in seeing who Star gets into a partnership with and who wants to use this platform. It’s possible that the digital part will be sublet to someone else,” felt Cherian.
The IPL’s ability to command such numbers is another curious point. Instead of suffering in the wake of spot-fixing and betting controversies, the value of this product has only gone up. After Pepsi’s decision to part ways as title sponsor, Vivo came in with a purse worth several times more. This shows that IPL’s appeal with the public has not suffered despite the BCCI’s image getting damaged in the controversies.
“What Lalit Modi had created was a robust and popular product. It has only risen in popularity over the years. Public perception is that the court has taken care of the problems in BCCI and that the system is being cleaned up. What happened there have not affected the IPL. Rather, it has only grown in terms of practically everything,” noted Cherian.
Digital space has grown rapidly in the last three-four years. I’d be interested in seeing who Star gets into a partnership with and who wants to use this platform. It’s possible that the digital part will be sublet to someone else.
Dilip Cherian, Image management specialist
Bids for digital rights (in crores):
TIL D1787.50, Facebook D3900, Airtel D3280, Star D1443, Reliance Jio D3075.72
atreyo@newindianexpress.com