IPL Media Rights: Bidding value up to Rs 43,225 crore, two and a half times more than 2017 bid

IPL 2022 Trophy. File Pic

The IPL continues to fetch big bucks as the first two packages of its media rights deal gets sold for a combined Rs 43,255 crore, as reported by ANI.

The IPL media rights deal was divided in 4 packages, namely A, B, C, and D, for which an e-auction has been taking place. Package A and B concern TV rights and digital rights in the Indian sub-continent, respectively.

As per ANI, Package A topped off at Rs 23,575 crore i.e. Rs 57 crore per match, while Package B fetched Rs 19,680 crore i.e. Rs 48 crore per match.

The media rights value has increased by two-and-a-half times more than what Star India paid in 2017.

There'll be a total of 74 IPL games in each of the next 3 seasons, with the possibility of the number going up to 94 in the two seasons thereafter.

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The finer details, regarding who has purchased the packages and who bid how much, hasn't been made clear yet.

Package C involves digital rights for a select 18 matches of India's premier T20 competition. Package D concerns both TV and digital rights access outside the Indian sub-continent. The auction for these two packages is yet to commence.

Those bidding for Package A must have a net worth of over Rs 1000 crore. Those bidding for the other three packages must cross the net worth threshold of Rs 500 crore.

This year, global giants like Zee Entertainment Enterprises Limited (ZEEL), Reliance-Viacom 18, Disney Star Network and Sony Network are in the fray to grab the rights to the event.

(With inputs from ANI)