Star India bagged the Board of Control for Cricket in India (BCCI) for TV and digital rights for a whopping 6138.1 crore on Thursday in an intense bidding that took place for three days.
It was the first e-auction, Star India defeated the heavyweights Sony and Jio after a bid of 6138.1 crores. The bidding process has ensured a windfall for the BCCI. Previously, Star paid Rs 3851 crore for rights to broadcast India’s home matches from 2012-18.
After winning the bid, Star India CEO Uday Shankar said, “Like everything else, BCCI rights come a little expensive. The experience of the auction was great but it was like a movie that it just went on and on. It was good from BCCI’ point of view because it got them more revenue.”
“I don’t think a tender in any sport that has gone for as long. It took time to understand but it was a transparent process. You always knew who the highest bidder in each category was. You had enough time to process and react. Both (advertising and subscription) have their own roles,” he added.
Star India had earlier acquired rights to the Indian Premier League (IPL) for a mammoth Rs 16347.5 crores for the next five years and now has bagged rights for all India matches as well.
BCCI will get Rs 60.18 crore per match. The rights include 102 matches between April 15, 2018, to March 31, 2023.
The BCCI acting secretary, Amitabh Choudhary also offered gratitude to Sony by saying, “I would like to express my gratitude to Sony Pictures who helped us achieve the milestone as they last bid Rs 61118.59 crores.”