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After winning the digital rights for Indian Premier League, Mukesh Ambani-backed Viacom18 plans on taking India’s biggest sporting event to every nook and corner of the country.
“Making it available to every Indian consumer, something that even the television failed to do,” Anil Jayraj, CEO, Sports, Viacom18 said in an email sent to employees. “Our partnership with Jio gives us unparalleled access and reach to each and every Indian.” In the email, which was seen by BusinessLine, Jayraj said that not only will Viacom18 be able to make the most successful streaming company in the country, but they will also, along with their other business, build India’s most profitable digital media and entertainment brand.
Synergies on cards
As per the email, acquiring digital rights for IPL was a major focus during the auctions “(it) comes from the core belief that our company is committed to building world-class digital platforms for the future.” With the world’s second most expensive sporting league in the hands of Reliance, major synergies occur across all of their businesses.
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The IPL media rights deal will fetch an overall revenue of ₹48,390 crore of revenue for the BCCIOn one hand, the IPL could enable Reliance Jio in boosting its ARPUs and increasing telecom subscribers, Jio will also play an instrumental role in distributing its streaming platform.
Digital focus
In the past years, Reliance has also been building its digital businesses, with the creation of its wholly-owned subsidiary for its internet and technology ventures- Jio Platforms, in 2019. IPL is another feather in Reliance’s cap for further growth in this domain.
Viacom18 holds the digital rights for the Indian Premier League for seasons, 2023-2027. These are exclusive digital rights since Viacom18 also bought the special digital package for 18 games which were sold separately. Viacom18 has also won the rights to broadcast IPL in three of the five international territories, including Asia, Canada, Australia, the Caribbean Islands, Israel, New Zealand, South Africa, Sub-Saharan Africa and Europe.
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