Viacom18 parts with $721m to secure Indian cricket rights

Mumbai-based media group Viacom18 has signed a five-year deal with the Board of Control for Cricket in India (BCCI) for the TV and digital rights to Indian domestic cricket. 

The contract, valued at ₹5,963 crore rupees (US $721m), covers a total of 88 matches that span between September 2023 and September 2028, with each fixture priced at $8m. 

Roger Binny, President of the BCCI, commented: “The recent BCCI e-auction has unequivocally demonstrated the vigour of cricket in India. The remarkable journey of Indian cricket, its meteoric rise on the global sporting arena, owes its success to the unwavering trust that people have vested in the BCCI leadership and its dedicated workforce.

“With the staunch support and collaboration of every stakeholder within our cricketing ecosystem, I am confident that we will continue to propel the brand BCCI to uncharted territories on the global sports stage.”

Backed by Indian businessman Mukesh Ambani, Viacom18 managed to outpace both Disney Star and Sony Pictures Network in the bidding process, earning the TV and digital rights to broadcast the games on its JioCinema and Sports18 networks. 

Additionally, Viacom18 – which Paramount Global owns a 13% stake in – managed to lock in a $3bn digital rights deal for the Indian Premier League last year after Disney swooped in to take the TV rights. 

The Ambani-backed media also managed to secure the rights for the Women’s Indian Premier League, which saw its inaugural season being played earlier this year. 

Jay Shah, BCCI Secretary, added: “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.”

Previous articleArsenal announces new collaboration with Betway
Next articleGiannis Antetokounmpo invests in TGL’s LAGC to ‘shape the future’ of golf