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Star wins IPL rights for ₹16,000 crore over five years; implications

In a massive coup, Star India has won global digital and TV rights for the next five years, outbidding competitors like Jio and Sony Pictures by putting up ₹16,347.50 crore in a consolidated bid for rights across these categories. From 2018 to 2022, Star will have exclusive broadcasting rights for the league. Star outbid Sony, which won ten-year broadcasting rights for the IPL in 2008, which expires next year. It also outbid Times Internet and Facebook, as both Internet companies try to get a foothold in streaming sporting events. Amazon and Twitter, both of whom want a piece of the sports streaming pie, did not submit bids, even though they bought tender documents for the auction. ESPN and Yahoo also did not submit bids. https://twitter.com/LalitKModi/status/904626637848936448 This is a big win for Star, and for its streaming service Hotstar. Most of…

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