Viacom18 secures TV and digital rights for India’s home matches

Viacom18 is set to be the single-biggest player in the Indian sports broadcasting market after securing TV and digital rights for India’s home matches for the next five years, along with the rights to show women’s international and all domestic games on Sport18 and Jio Cinema. 

As a matter of fact, Viacom18, who already holds the digital rights to the Indian Premier League and both TV and digital rights to the Women’s Premier League, will pay INR 67.8 crore per game, as against the prescribed 60 crore base value set for the combined rights. This will bring BCCI Rs 5966.4 crore to the coffer. 

Announcing the deal, BCCI secretary Jay Shah said, "It fills me with immense joy and a profound sense of pride to witness the remarkable growth of brand BCCI. Today's e-auction has propelled BCCI into the upper echelons of per-match media rights valuation, marking a monumental stride in our journey. Throughout this process, we have steadfastly upheld the principles of transparency and fairness, ensuring that all stakeholders are treated equitably. 

"I extend my heartfelt congratulations to Viacom18 for emerging successful in the e-auction, and I express my sincere gratitude to all the bidders who participated in this process. Their involvement underscores the industry's confidence in India Cricket. I also want to acknowledge the role of market forces in reinforcing their belief and trust in us.

"Our underlying goal remains to strike a harmonious equilibrium between cricket and commercial interests. BCCI remains deeply committed to nurturing sports development in India through the medium of cricket. The revenue generated from media rights is an essential catalyst for nurturing grassroots cricket across the nation—a cause that resonates deeply with us. It's the legacy we leave behind and the positive impact we create in our country's cricketing ecosystem that truly matters."

The Board of Control for Cricket in India (BCCI) conducted an e-auction for the much-awaited home rights on Thursday, and it saw a three-way battle between Viacom18, Disney Star, and Sony Sports India Pvt. Ltd. So this can now be considered as an effective end of Star's monopoly in the Indian market.

The base price for India digital and the rest of the world rights were kept at 25 crores per match, whereas the BCCI asked for a minimum of INR 20 crores per match for India television rights. However, the BCCI had kept a clause that if the cumulative value was less than INR 60 crores, they had the right to cancel the entire process. However, with IPL rights yielding 118 crores per match, the BCCI knew the base was too low for the broadcasters to look around.

Before putting out the contract, BCCI had done extensive consultations with Ernst and Young (EY), the appointed consulting agency for this endeavor, who offered them the expertise to create a bidding infrastructure that would increase the value in a progressive fashion. 

Last year, Disney Star retained the television rights for the Indian subcontinent market in a deal worth $3.02 billion, Viacom18 splurged $3.05 billion for digital rights. That is apart from spending a huge amount of money for other rights to foreign markets, in which Times Internet Ltd. was also a participant.