When it comes to cricket, nothing captivates the Indian audience quite like the Indian Premier League (IPL). A blend of high-intensity sport, star power, and a genuine fan base, the IPL has grown exponentially since its inception in 2008, making it one of the most-watched sporting events globally.
The broadcasting rights for this prestigious event are thus hot property, attracting high bidding wars and resulting in staggering figures. Its high-energy matches captivate die-hard cricket fans and those who enjoy the thrill of predicting match outcomes, for example, users of the IPLwin website, the most popular place for bettors in Asia.
A Glimpse at the History
The first IPL broadcasting deal was signed in 2008 with Sony Entertainment Television (SET) and World Sports Group (WSG). The deal, spanning ten years, was valued at approximately $1 billion.
However, controversies emerged involving WSG, and as a result, the BCCI unilaterally terminated the agreement in 2010. Subsequently, SET signed a new contract for the Indian subcontinent’s broadcasting rights, paying the BCCI $1.63 billion from 2009 to 2017.
In 2017, the broadcasting game saw a paradigm shift when Star India won the global broadcasting and digital rights for IPL for five years (2018-2022).
Star India, a part of the international media conglomerate Disney, shelled out an enormous INR 16,347.5 crore (approximately $2.55 billion), making it the most expensive broadcasting deal in the history of cricket.
To put it into perspective, Star India paid around INR 54.5 crore (approximately $7.2 million) each match. Given that an international bilateral match’s broadcast rights cost about INR 43 crore ($5.7 million), the scale of this investment becomes even more evident.
The Intersection of Sports and Online Betting
The IPL isn’t just about cricket; it’s also a major event on the calendar of online betting platforms. It provides numerous opportunities for placing bets on match outcomes, player performances, and other aspects of the game. This creates a bustling online betting scene during the IPL season.
Online sportsbooks and exchanges attract significant traffic during the IPL season. Enthusiastic fans flock to online apps and sites to try their luck on various betting options and engage with an active community of cricket lovers.
The platform offers a variety of betting markets for each IPL match, ranging from the match winner to individual player performances, making the watching experience even more exciting. This blend of sports and online betting during the IPL season helps platforms build a solid user base and drive impressive engagement rates.
Future of IPL Broadcasting Rights
Star India, a company owned by Disney, will keep showing IPL matches on TV from 2023 to 2027. They won the rights in an online bid. For the same time, Viacom 18 won the rights to show the IPL matches on digital platforms.
Why IPL Broadcasting Rights are a Worthy Investment:
- High viewership: The IPL’s wide appeal ensures a large audience for advertisers, translating into substantial ad revenue
- Global Reach: With a significant international fanbase, IPL matches can be marketed to audiences worldwide
- Digital Growth: The increasing trend of online sports consumption offers opportunities for digital platforms
- Premium Ad Spots: Due to the IPL’s popularity, advertisers are willing to pay a premium for ad spots during the matches
- Subscription Boost: Broadcasters can leverage the IPL’s appeal to create attractive subscription packages
These deals together mean the Board of Control for Cricket in India (BCCI) will get over 480 billion rupees in the next five years. This makes the IPL the second most valuable sports league in the world when we look at how much each match is worth. The future of IPL broadcasting looks very exciting with this news.
Revenue streams like advertising and subscription fees ensure a steady inflow of income. The IPL’s wide-reaching appeal ensures that advertisers are willing to pay a premium for spots during matches, translating into significant revenue for the broadcasters.
Loves all things female cricket