The Indian Premier League (IPL) seemingly remains immune to extraneous factors. Inflation, an economy under constant stress, a world grappling with a war in Europe and a pandemic that refuses to die down have had no bearing on the robust financial underpinnings of this domestic T20 league with an international flavour. The top-dollar yield of the IPL’s latest media rights auction for the 2023-27 period, a term lasting five years, reiterates the monetary strength and brand equity of the league, which has gained incremental strength every year since its inception in 2008. Be it logistical issues such as dealing with general elections or internal rumblings like the spot-fixing and spread betting crisis, the league has an inner resilience and marches to its own beat while the hype-masters keep its marketing buzz on a high pitch. Though split into four packages in which three were a generous hat-tip to the digital markets, the media rights auction that concluded on Tuesday garnered ₹48,390 crore which is nearly thrice the ₹16,347 crore that the previous cycle offered thanks to the then successful bid by Disney Star. Even if the recent edition had its issues with a dip in TRP ratings, the league retained its sheen considering the big bucks that it continues to reap from broadcast and media firms as corporates lean excessively on it for advertising.
The interesting part this time was the segregation of the television and digital space unlike in the previous cycles. The current alteration is a pointer to the prominence of smartphones, laptops and tablets in the consumption of content. Disney Star retained the television space while shelling out ₹23,575 crore; in the package B for digital rights, Viacom18 prevailed at ₹20,500 crore. Viacom18 also won package C at ₹3,257.5 crore and in package D, Times Internet and Viacom18 split the booty. Flush with cash, the Board of Control for Cricket in India (BCCI) in a moment of reflexive kindness, hiked the pension of former cricketers and umpires. However, with so much money being spent on media rights, advertisers will come under pressure to spend more for commercial slots. And if the rights’ holders want to maximise their profits, there could be demands to have more teams beyond the current 10, may be have two editions in the same year and this could affect the international cricketing season. With money in its coffers, the BCCI needs to improve stadiums and increase the number of international fixtures that India’s women cricketers play. That someone like Mithali Raj played only 12 Tests in a career spanning 23 years is a shame. There is so much the BCCI can do and the latest windfall should help.
