IPL Media Rights: Sony made reasonable bid, considering all expected returns, says NP Singh
Sony Pictures Networks India’s MD and CEO, NP Singh, stated that the business made a respectable proposal for the Indian Premier League (IPL) media rights, taking into account all expected returns.
The IPL media rights e-auction ended on Tuesday, with Disney Star retaining the TV rights in the subcontinent for Rs 23,575 crore (approximately USD 3 billion), and Viacom 18 securing the digital rights in the same region, as well as media rights (both TV and digital) across three global regions – Australia + New Zealand, the UK, and South Africa – for Rs 23,758 crore (USD 3 billion approx). Times Internet received media rights for two further global regions: the Middle East (Rs 205 crore/USD 26.27 million approx) and the United States (Rs 258 crore/USD 33.06 million approx).
When you factor in the global stats, the IPL is now second only to the NFL in terms of per-match value.
“I want to begin by congratulating and thanking BCCI for an extremely well-managed and transparent bidding process. Next, I want to congratulate the winners of the four IPL media rights packages. The IPL began with SPN and has since developed into one of the world’s most popular sporting leagues. In its 15-year history,” NP Singh said.
“We’ve seen the league grow and would have liked to see it on the Sony Network again. In this regard, we made a reasonable bid, considering all the expected returns. We had to factor in the market’s anticipated expansion and potential economic and other concerns over the next five years. Fiscal prudence, in my opinion, is critical for strategic management,” he added.
This year, Sony Sports Network will continue to broadcast more than 1800 hours of cricket. Including India’s tour of England and popular T20I leagues. Such as the Big Bash League, Pakistan Super League, Women’s Big Bash League, and others.
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