Amazon Withdraws to Buy IPL Broadcasting Rights

Amazon Withdraws to Buy IPL Broadcasting Rights

Before the start of the 15th edition of the Indian Premier League (IPL), it was revealed that Amazon was interested in buying the broadcasting rights of the tournament. However, it was learned at the door of the auction of broadcasting rights that Amazon withdraws of the Indian Premier League media rights auction race to buy the broadcasting rights of IPL. According to various media outlets, the company is no longer willing to invest in the broadcasting rights of the IPL after investing heavily in India.

When it comes to listing the most popular franchise leagues in the world, the name of IPL comes first. Naturally, the brand value of the tournament is also quite high, 600 million. About 600 million viewers enjoy this tournament every season sitting in front of the TV set.

Naturally, considering the big brand price and the large number of viewers, Amazon thought of buying the broadcasting rights. The company was expected to compete with Walt Disney, Reliance Group and Sony as it expressed interest in buying IPL broadcasting rights. However, after the decision to withdraw their names, the level of rivalry eased.

What exactly caused Amazon to lose interest in buying the broadcasting rights of the IPL? In response to this question, various media outlets quoted company officials as saying that Amazon has already invested ৬ 600 million in India. Now the company does not want to invest in the IPL promotion rights.

In 2016, The Board of Control for Cricket in India (BCCI) sold the broadcasting rights of the IPL to Star Network for five years. The contract expired in 2022 after the 15th edition of the IPL.

That is why the BCCI is going to sell the new broadcasting rights of the IPL for the next five years (2023-28). Various media outlets have speculated that the cost of IPL broadcasting rights could rise to 800 million.

Although Amazon has lost interest in buying the broadcasting rights of the IPL, the company is investing heavily in buying the broadcasting rights of European football. Amazon has also bought the broadcasting rights of the US tournament ‘Thursday Night Football’ for 1 billion.

 


 

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