Mumbai: Mukesh Ambani and Jeff Bezos, billionaires who have been battling for years in India for retail pie, are now headed for a ferocious battle over the broadcast rights to the country’s cricket matches.
This week, the Indian cricket league (IPL) unveiled guidelines to auction off media rights in a way to raise more bids and revenue.
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For the first time, it was decided that the broadcast rights of matches on television and online streaming will be sold separately, which will open the door to Amazon and its video streaming service Prime Video.
Mukesh Ambani’s Reliance Industries Ltd. is likely to win, according to sources close to the issue, as the companies fight for e-commerce supremacy in India, the world’s fastest-growing market.
The auction will take place online over the course of two days, where Ambani and Bezos, will fight for the amount of about $275 billion and $100 billion respectively.
Media analysts feel that winning the said broadcasting rights will be a prestige issue for Amazon, Reliance, and others so every stakeholder is expected to flex their muscles to get it.
The auction of Indian Premier League rights of around dozens of matches between 2023 and 2027 will be at stake, while separate auctions will take place for live streaming and broadcasting rights in different regions.
One can guess the fierce money flowing into the rights, since Amazon has been paying about $1 billion a year to show the National Football League online only for Thursday night.
With the internet, penetration is growing at a rapid pace in India. The said cricket auction is generating intense interest since cricket is the most followed sport in the nation. Competitors believe, streaming matches is an effective way to reach the country’s 1.4 billion population, which like to enjoy watching sports on their mobile devices.
Though it’s not only about Amazon and Reliance there is a horde of competitors, like Walt Disney Co.-owned Star India and its partner online streaming service Disney Hotstar. Also in the race is a newly formed media behemoth of Sony Pictures and India’s Zee Entertainment Enterprises which will bid fiercely to win the media rights.
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Winning streaming rights to cricket matches would provide the conglomerate with a large share of digital opportunities in India through telecast rights. Since IPL, is one of the world’s most-watched sporting events where 10 teams fight it out over a month for the prestigious title.
