The base price of IPL media rights needs a reality check: Sony Pictures’ NP Singh

NP Singh, chief executive officer and CEO of Sony Pictures Networks India (SPN), raised serious concerns about the reserve price of ₹ 32,890 crore set by the Indian Premier League Media Rights Cricket Council (IPL) for the period 2023-27.

Cricket Control Board in India (BCCI) must be realistic, given the fact that IPL has seen a huge drop in viewership this season, Singh said.

The proposed base price is more than double that of the owner of the existing rights StarIndia paid for the current five-year cycle at ₹ 16,347.5 crore.

“It’s a very aggressive reserve price and there has to be a reality check as IPL’s TV audience has dropped by more than 34% and at a time when the rights are about to be renewed,” Singh told ET.

“The expected outlay given the reserve price is very high and we will have to take into account the expected growth of the market as well as possible economic and other risks that the market could see in the next five years,” he said. “So, we’ll weigh everything before we decide what to do.”

BCCI announced last month the release of its IPL media rights tender (ITT).

This time around, the council split the digital rights into two separate packages. One for all games and the second for 18 games on a non-exclusive basis, including the opening game, playoffs and all Sunday evening games. Digital rights splitting has failed with broadcasters like SPN.

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