Disney Star gets TV deal for Rs 23,575 crore, Viacom18 bags digital for Rs 20,500 crore
IPL Media Rights
New Delhi, Jun 13: Disney Star won the coveted IPL Indian sub-continent TV rights for a whopping Rs 23,575 crore while Viacom18 grabbed the digital rights with a bid of Rs 20,500 crore at the media rights auction on Monday.
The BCCI is set to laugh its way to the bank after selling its IPL TV and digital rights for the Indian sub-continent for a combined amount of Rs 44,075 crore, making it one of the richest entities in the sporting world.
"Star has retained Indian TV rights of IPL for next five years while Viacom18 has got the digital rights. The combined per match value only from Indian TV and digital rights per game is 107.5 crore. With these bids, monopoly of one broadcaster in IPL ends," a senior BCCI functionary told PTI on the condition of anonymity.
As per information received, Package A (Indian sub-continent TV Rights) for 410 IPL matches across five seasons from 2023 to 2027 has been sold for Rs 23,575 crore, which is effectively Rs 57.5 crore per game.
However, it is the India sub-continent's digital rights that stole the thunder with Rs 50 crore per game being offered by Viacom18 (with Uday Shankar and James Murdoch's Lupa Systems) after Star as the winner of Package A challenged them.
The Package B fetched Rs 20,500 crore and thus cumulatively the BCCI is now richer by Rs 44,075 crore after selling the two packages.
When the auctions stopped on the second day, another Rs 2000 crore was bid for Package C, which has a select non-exclusive digital rights deal. The auction, which has moved into the third day, will resume with Package C on Tuesday.
As of now, the board has earned a staggering Rs 46,000 crore, which is already two and half times more than the 2018 auction value of Rs 16,347 crore.
As PTI had predicted, the final valuation would be around Rs 47,000 crore to Rs 50,000 crore.
The base price for TV was Rs 49 crore while digital rights were pegged at Rs 33 crore.
"We are already reaching towards USD 5.5 billion mark after selling two packages. But digital rights per match value touching Rs 50 crore is massive. An incremental growth of 51 percent over and above base price is phenomenal," a BCCI functionary told PTI.
"The bidding stopped at 6 pm today and we are currently auctioning off package C, which has 98 games for five years in non-exclusive digital category. There are 18 in first two seasons followed by 20 in next two and 24 in the final season. It will be followed by package D, which is overseas rights for TV and digital."
The break-up of 410 matches across five years are as follows: 74 matches each for 2023 and 2024. It increases to 84 games in 2025 and 2026, and 94 matches in 2027.
As per the norms of e-auction, the owners are given a secret code through which they bid. No BCCI office-bearers and employees have an inkling of the bidding companies' code.
The bidding started with increments of Rs 50 lakh during the initial period and once Package A winner challenged the highest bidder of Package 'B', the incremental bid value was worth Rs 1 crore.
None of the BCCI officials could confirm as to who won the two packages.
It is believed that Sony and Walt Disney (Star) have had a bidding war for TV rights. Market sources say that Reliance-owned Viacom18, which has formed a consortium with Uday Shankar and James Murdoch's Lupa Systems, is said to be in the fray for Package B.
Viacom has won Package B and will go hard at Package C as the broadcasters would like to maintain their exclusivity and losing a small package of marquee matches to another entity won't be a great business move.
Package D, which has a base value of Rs 3 crore for overseas TV and digital rights, will have a strong contender in Zee, which is being headlined at the auction by former BCCI CEO Rahul Johri.
"If Johri and Zee can win Package D and if Sony has won package A, then the Zee-Sony partnership will usher a new beginning. But let's wait till tomorrow," a source involved in the auction process said.
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India, Ethiopia elevate ties to strategic partnership as PM Modi holds talks with his counterpart
Addis Ababa (PTI): India and Ethiopia on Tuesday elevated their historical ties to a strategic partnership, as Prime Minister Narendra Modi held wide-ranging talks with his Ethiopian counterpart Abiy Ahmed Ali during which they discussed issues of bilateral and mutual interest.
Modi, who arrived here from Jordan on his maiden bilateral visit, was accorded a ceremonial welcome at the National Palace ahead of the bilateral talks, reflecting the vibrant India-Ethiopia relations rooted in shared history and a promising future.
"We are elevating India and Ethiopia relations to a strategic partnership. This step will provide new energy, new momentum and new depth to our ties," Prime Minister Modi said during the delegation-level talks.
He thanked PM Ali for his support in India's fight against terrorism. "The support of friendly countries in this struggle against terrorism holds great significance," Modi said.
"Today, we got the opportunity to deliberate on the key aspects of our cooperation, such as economy, innovation, technology, defence, health, capacity-building and multilateral cooperation. I am pleased that today, we have decided to double the student scholarship for Ethiopia in India," Modi said.
Modi said that India and Ethiopia have shared contact, dialogue, and exchange for thousands of years. The two countries, which are rich in languages and traditions, are symbols of unity in diversity, he added.
"Both countries are democratic powers committed to peace and the welfare of humanity. We are co-travellers and partners of the Global South. On international platforms, we have stood shoulder-to-shoulder," he said.
The two sides signed eight MoUs/agreements, including upgrading ties to 'Strategic Partnership', customs cooperation, establishing data center at the Ethiopian Foreign Ministry, UN Peacekeeping training cooperation, debt restructuring under G20, more ICCR scholarships and AI short courses for Ethiopians, and support for maternal and neonatal healthcare.
Modi said the African Union's headquarters in Ethiopia makes the country a meeting point of African diplomacy. "Inspired by the common vision of an inclusive world, in 2023, India ensured that the African Union became a G20 member," he said.
In 2023, during India’s G20 Presidency, the African Union was admitted as a permanent member of the G20.
Modi said that though this is his first visit, he felt a deep sense of belonging and warmth, reflecting the thousands of years of connection between the two countries.
On his part, Prime Minister Ali said the two countries share over thousands of years of connection through trade, diplomacy, education, culture and even in our food and traditions. "These ties continue to shape a deep friendship, collaboration and mutual respect between our people," he said.
"We also appreciate your consistent message that Africa's priorities must lead the partnership. These kinds of dignified, respectful messages for Africa are very important. Mr Prime Minister, keep pushing. That is the type of message we are expecting from all our trusted friends," Ali said.
He said this aligned fully with Ethiopia's development plan - African-owned, African-led, and African-defined.
"Today, we meet with a clear focus to shape a modern partnership, grounded in sovereignty, self-reliance and practical cooperation. Our cooperation is rooted in equality and South-South solidarity," he said.
"Our economy is performing strongly. Last year, we grew 9.2% and this year we are expecting 10.3% GDP growth. Besides GDP growth, our FDI inflow is also rising big time. India is the leading source for our FDI," he said.
"We have more than 615 Indian companies which are investing in Ethiopia. This all gives our cooperation a strong foundation of trust. I think our decision today that we elevate our historic relationship to a strategic relationship is the right decision," he added.
Ethiopia also conferred its highest award - The Great Honour Nishan of Ethiopia - on PM Modi. He is the first global head of state to receive this award.
Prime Minister Modi also went to the Friendship Park and Friendship Square in Addis Ababa with PM Ali.
In a warm and special gesture, PM Modi was earlier received by his Ethiopian counterpart at the airport and accorded a warm and colourful welcome.
"Ethiopia is a nation with great history and vibrant culture," Modi said.
PM Ali informed his Indian counterpart about the varieties of Ethiopian coffee during informal talks.
"At Addis Ababa airport, took part in a traditional Coffee Ceremony with Prime Minister Abiy Ahmed Ali. The ceremony beautifully highlights Ethiopia’s rich heritage," Modi said.
In a unique gesture, the Ethiopian Prime Minister drove Modi to the hotel.
On the way, he took a special initiative of taking PM Modi to the Science Museum and Friendship Park, which was not in the itinerary.
"Gratitude to Prime Minister Abiy Ahmed Ali for showing me glimpses of Ethiopian history and culture at the National Palace Museum in Addis Ababa. It was a powerful reminder of Ethiopia’s rich traditions," Modi said in a post on X.
The Nobel Peace Prize-winning Ethiopian PM’s special gestures show remarkable respect for Modi, sources said.
"Thank you Ethiopia for a welcome that was unforgettable. The Indian community showed remarkable warmth and affection. India-Ethiopia friendship is going to get even more robust in the times to come," Modi said.
When Modi arrived at the hotel, he was warmly welcomed by the members of the Indian community. Local artists performed dances. Some of them danced on the theme of the popular Hindi song 'Aisa Des Hai Mera' to welcome him.
On Wednesday, Modi will address the Joint Session of Parliament and share his thoughts on India's journey as the "Mother of Democracy" and the value that the India-Ethiopia partnership can bring to the Global South.
PM Modi arrived in Ethiopia from Jordan, where he held a one-on-one meeting with King Abdullah II at the Husseiniya Palace on Monday before the delegation-level talks.
India and Jordan also inked MoUs in the fields of culture, renewable energy, water management, digital public infrastructure and twinning arrangement between Petra and Ellora, aimed at giving a major boost to bilateral ties and friendship.
From Ethiopia, Modi will visit Oman on the final leg of this three-nation tour.
