On the opening day of the IPL media rights auction, the bids for TV and digital rights crossed Rs 43,000 crore on opening day of the auction. The bidding for first two bundles including TV and digital rights is over, according to people tracking the media rights auction.
The auction for Packages A and B have concluded. TV has racked up Rs 57.5 crore and digital is at an overnight score of Rs 48 crore.
Digital rights, which is expected to see highest growth in terms of value, ended on day one of bidding at Rs 48 crore per match, up from its base price of Rs 33 crore for each game.
The base price for TV was set at Rs 18,130 and digital's base price is Rs 12,210, totaling to Rs 30,340 crore. Advertising rates on TV are expected to see big spike with broadcast rights value already reaching Rs 23,370 on the first day of bidding for IPL's media rights.
Disney Star, Sony Pictures Networks India (SPNI) and Viacom18 are in the bidding race for broadcast rights. For digital, Zee is competing with Disney Star and Viacom18, reported Money Control.
The details of who bid for what package is yet to come but the value for per match TV, digital rights value surpasses Rs 105 crore-mark.
The Day One of the e-auction ended and media rights value grew two and a half times in bidding so far more than what Star India paid in the year 2017.
Twitterati reacted in shock as the valuation sky-rocketed in comparison to previous figures.
One person tweeted: “Breaking: IPLMediaRights crosses Pakistan’s economy by whopping 100 times.”
Another wrote: “Whenever ppl speak about big money in movies, sports, business, I feel very skeptical as most of it is going to the pockets of a few dozen big names, with some partial inflow to the society at large. Our nation remains poor #IPLMediaRights.”