India (Reuters): Indian billionaire Mukesh Ambani’s broadcasting unit grabbed rights to televise and live stream the national cricket team’s bilateral matches for $721.41 million, in its latest win over Walt Disney that had previously held the rights.
Reliance Industries (RELI.NS)-owned joint venture Viacom18 won the Board of Control for Cricket in India’s (BCCI) media rights for international and domestic games from September 2023 to March 2028, the cricket administrator said on Thursday.
The company already owns digital streaming rights to the popular Indian Premier League Twenty-20 (IPL T20) tournament.
With Reliance Industries’ Viacom18 securing both the TV and digital media rights to the Indian national cricket team’s matches and the IPL, there is no doubt that cricket fans around the world will have unprecedented access to these high-stakes tournaments.
The increase in viewing options, especially through digital platforms, has brought cricket closer to millions, making it easier than ever to follow the action.
As more fans tune in to the IPL’s electrifying matches, betting on the tournament has become an increasingly popular way to elevate the excitement.
Whether you’re a seasoned bettor or new to the game, there are plenty of platforms offering a safe and engaging experience. Trusted IPL betting Sites have become vital for fans who want to place informed bets and maximize their enjoyment of the tournament. These sites provide secure payment options, competitive odds, and a wide variety of betting markets, allowing users to place their bets with confidence.
As the reach of IPL continues to expand, so too does the opportunity for fans to get involved in this thrilling betting market, where each game is more than just a match — it becomes an experience to be enjoyed both on and off the field.
Ambani snatched away the rights from the Disney Plus Hotstar streaming service in a $2.9 billion bid last year, and then streamed games for free.
This prompted Disney subscribers to flee – out of 61 million users in October 2022, about 21 million had left by July this year.
“A single entity securing both TV and digital rights is mutually advantageous as it enhances negotiating leverage in contrast to two separate players, which fuels competitive rivalry, dampening overall revenue,” said Elara Capital analyst Karan Taurani.
Disney did not bid aggressively for the BCCI rights as it sees a decline in viewership for such matches and is instead looking to focus on profitability in India, a source with direct knowledge of the matter told Reuters.
It has, however, decided to show the ongoing Asia Cup cricket tournament and the ICC Cricket World Cup, set to begin in October, for free on smartphones in hopes to boost advertisement revenue and offset the impact of subscriber exodus.
Disney did not immediately respond to Reuters’ request for comment.
Last year, Disney renewed its media rights to show International Cricket Council’s tournaments in India from 2024 to 2027 after winning a bid for $3 billion.
It later licensed the TV broadcast rights to India’s Zee Entertainment (ZEE.NS) and only regained the digital streaming rights, a source told Reuters.