The Clap👏 A bidding war between Indian conglomerate Reliance Industries & Amazon is brewing over the rights to telecast the “Indian Superbowl”.
Break it down🏏 India’s Premier Cricket League (IPL) is one of the most-watched events of the year, with hundreds of millions tuning in for the “Indian Super Bowl”.
Naturally, media companies are battling for the IPL’s telecasting rights.
In an effort to compete with Amazon, Reliance Industries hopes to bring together a consortium to outbid the heavy competition.
What’s in it for them🤔 Amazon is in this for Prime Video’s sake, as it looks to increase its viewership. The same goes for Reliance Industries, which looks to double down on its media business.
Owning telecasting rights to an event watched by hundreds of millions is definitely one way to do it.
What’s it gonna cost?💸 Bidding is expected to range between 400-500 billion rupees ($5.3-$6.7 billion).
Some, however, question whether the rate at which telecasting the IPL is growing is sustainable or not. Current owners of telecasting rights, Walt Disney, paid $2.55 billion to acquire the rights back in 2018.