The Indian T20 League has been making a significant growth, over the years. The brokerage firm, Elara Securities now estimates the broadcasting rights of the tournament for the 2023-28 period to grow three to four times. Growth of 50,000 to 60,000 crore is expected in the upcoming cycle. Indian T20 League broadcasting rights in the previous cycle of 2018-22 grew four-fold to Rs 16,300 crore.
“Cricket may continue to enjoy such sheer dominance in India, medium term, propped by large-lucrative properties such as the Indian Premier League (IPL). Thus, expect IPL renewal to underpin media rights growth in India, medium-term,” Elara Securities said in a note on June 7.
As per the brokerage firm, the digital rights are going to make headlines as a premium of 100 percent from the current base is on the expected lines. Besides, it has also estimated 40 percent rise in premium for television rights for all the Indian T20 League matches in the upcoming auction.
“This in turn should massively bolster India’s sports media rights market. And IPL’s share may grow to 74 percent from 54 percent currently, evincing its importance,” Elara Securities said.
Add to that, the media rights auction will also increase the value of the Indian T20 League franchises. It is pertinent to note that media rights account for 70 percent of all the teams’ revenues.
As per a report in Bloomberg, Amazon’s Prime video, Disney plus Hotstar, Reliance Industries, Zee Entertainment-Sony India and Dream11 are all in the fray to acquire the media rights. Indian T20 League has now become the fourth biggest professional sports league across the world in terms of revenues.
The 15th edition of the Indian T20 League was conducted successfully this year. Playing their first season in the history of the tournament, Gujarat went on to life the title after beating Rajasthan in the final. Hardik Pandya and Co. topped the points table after the league stage and then beat Rajasthan twice in qualifier 1 and the final to create history.