Viacom18 has bagged three big wins related to the Indian Premier League (IPL). The entity is a joint venture between Network18, owned by RIL (Reliance Industries Limited – 51% stake) and Paramount Global (49% stake). Viacom18 was the highest bidder for digitally streaming IPL matches in the Indian subcontinent for seasons from 2023 to 2027. In addition to this, Viacom18 has won Indian digital rights for a special package of 18 games every season. This is not all. Viacom18 has further won the digital rights as well as television rights of streaming the IPL games in three out of five international territories, which includes major cricketing nations. Viacom18 has been investing heavily into getting the rights to streaming sports events. The company has already bagged the rights for soccer (La Liga, FIFA World Cup, Serie A and Ligue1), basketball (NBA), tennis and badminton. This is the first time Viacom18 is stepping into the world of cricket. IPL is arguably the best way to go about it for Viacom18 when cricket is concerned, as the league attracts billions of eyeballs globally. This will be an opportunity for the company to reach a younger audience which is highly engaged in watching IPL matches.
Viacom18’s Strategic Partnership With Jio Will be a Booster for RIL
RIL owns the largest telecom operator in the country – Reliance Jio. Jio is one of the biggest sponsors of the IPL. RIL also owns Mumbai Indians, the most successful cricketing franchise in IPL’s history. The crossovers that RIL can play with Viacom18 and Jio are just unparalleled. In India, Viacom18 will pay Rs 50 crore per match for streaming the match digitally. For the special rights package, the company will be paying Rs 33.24 crore per match. The Board of Control for Cricket in India (BCCI) is going to mint the kind of money that no other cricketing event in the world does by selling streaming rights. Viacom18 has also got the rights to stream IPL digitally and through television in the following international countries: Grouping A) – Australia, NZ, Singapore and Caribbean for Rs 0.30 crore per match. Grouping B) – South Africa and Sub-Saharan Africa for Rs 0.65 crore per match. Grouping C) – UK, Ireland, and Continental Europe for Rs 0.50 crore per match.
