Unlike the era before a decade, everything now is depended upon the media and news. In olden days there were few official news channels, through which the official news was regulated. There were only few channels and sources those days. But, now in this digital world the media has a huge power. Now, huge media and entertainment offices have taken place. Every single thing is viral through these media channels. Social media plays a huge role in the part of media and digital world. Everyone has got the power with these highly valued digital media channels.
Media plays a big role in the industries like entertainment and sports. These days everything has been covered by the media people just to telecast to the people as soon as possible. In cricket the media plays a big role. Before every match various media channels come to bid for getting selected as the media head for the matches. Recently we got the news that Star India has bagged the media rights for five years. Yes, this news is very much true and this time the rights have been in the cup of Star India.
The BCCI India International and Domestic media rights have been in the hands of Star India for next five years. The Bidding was held for three days and this time it was e-bidding, the first time in the history of Cricket Sport industry. The Star India bags this media rights for INR 6138.1 crore ($945 million of US currency). This news was official on Thursday as the bid was completed on that particular day. As soon as the winner was known, BCCI tweeted on their twitter handle about the media rights which was bagged by Star India. The tweet was – “Star India bags BCC India International and Domestic media rights for INR 6138.1 crore for the next five years”.
The recent sources say that the Ambani’s who have built the media empire and were running a good business in this industry has owned the major stake in Viacom 18. The Viacom 18 is very popular for the entertainment channels. Colors channel is one of the famous in the Viacom 18. The channel is struggling to get the viewership in the general entertainment space with the Star India. But as the Viacom 18 doesn’t have the sports channel this would not be possible. The reason Viacom 18 do not have sports channel is, as such channels acquire high cost says the sources. In this competition of bidding the media rights many top companies were available. The companies like Google, facebook have always come to bid the matches of India. These two companies came along for bidding about 102 matches in India. But, they didn’t last for a long. At last Star India private Ltd, Reliance Industries Limited and Sony Pictures networks India Private Ltd, were eligible for the bid. These three have submitted their online financial bids, among which Star India Private limited has bagged the media rights.
The Star India association has won the bid for media rights for total INR 6138.1 crore. The association has to pay the stiff bill not only for the BCCI rights, but they should also pay the bills for IPL media rights too. Yes, along with BCCI they have also roped the IPL media rights for five years. The amount has to be paid every year by the Star India association. Every year they have to pay INR 4.956 billion for both BCCI and IPL media rights. The research says that this amount is more than double the advertising revenue that comes to the cricket industry when comparing to precious years. Well, leaving all the financial talks, we can assure that this time media presence will be in Star India association, and we congratulate the team for this won.