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Winner’s Curse Or Money-Spinner? Analysts’ Take


Viacom18 Media Pvt.’s streaming rights win for the next five seasons of the Indian Premier League is likely to boost Reliance Jio Platforms’ content pool, though “monetisation” is key given the higher investment in bidding, according to analysts.

Viacom18, part of Mukesh Ambani-controlled Network18 Group and backed by James Murdoch and media veteran Uday Shankar, bought packages B and C, the digital rights for the subcontinent and the non-exclusive digital rights for 18 important matches (opener, finals, three play-offs and few double weekenders), for Rs 23,758 crore.

Along with Times Internet, it won Package D—the overseas rights—for Rs 1,060 crore.

Disney Star won Package A, consisting the TV rights to broadcast the world’s second-most expensive sporting event in the Indian subcontinent, for Rs 23,575 crore.

Together, the broadcasting rights auction fetched India’s cricket board Rs 48,390 crore for the next five years, nearly three times what it earned from Star in the previous five-year contract. The base price was Rs 32,890 crore.

Analysts, including at CLSA and Bernstein, considered the premiums the rights went for, what it will take for the bidders to be on the path to profitability and listed various implications the auction will have on the media industry here on.





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