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ICC In Financial Trouble As Jio-Star Set To Retract Media Rights Contract: Reports
Follow UsThe drastic step is being taken by Jio Star after incurring heavy losses in the current cycle
The ICC faces a serious crisis as JioStar has formally informed the governing body that it cannot continue with the remaining two years of its contract to broadcast ICC events in India, The Economic Times reported. The decision follows deep financial losses incurred by JioStar under the current four-year media-rights agreement.
Industry insiders told the above-mentioned daily that JioStar’s early exit leaves the 2024–27 rights cycle only half-served, creating uncertainty over how upcoming ICC events, including the men’s T20 World Cup 2026, which India will co-host, will be televised or streamed in India.
In response, the ICC has initiated a fresh sales process for the 2026–29 rights window and is reportedly seeking around US$2.4 billion. The global body has approached several major media platforms, including Sony Pictures Networks India (SPNI), Netflix and Amazon Prime Video, but so far none have committed, reportedly due to concerns over the high asking price.
According to the report, JioStar had more than doubled its provisions for expected losses in its sports contracts during 2024–25, from ₹12,319 crore to ₹25,760 crore, reflecting the strain from expensive long-term rights commitments.
Media-industry executives say this situation underscores a broader structural challenge in India’s sports-broadcasting sector. Ad revenue and subscription numbers have failed to keep pace with the soaring costs of acquiring and maintaining rights for high-profile cricket events. As a result, even well-established broadcasters like Jio Star are now cautious about committing large sums to long-term sports deals.
The abrupt withdrawal by JioStar not only places ICC’s upcoming event broadcasts in jeopardy but also raises doubts about how sustainable these rights agreements are when broadcasters face mounting losses and unpredictable returns. Experts believe that this developing story can also impact the broadcast deal prices for the Indian Premier League (IPL) in the upcoming seasons.