Amazon Withdraws to Buy IPL Broadcasting Rights
Before the 15th season of the Indian Premier League (IPL), Amazon indicated interest in acquiring the television rights. At the door of the Indian Premier League media rights auction, however, it was learned that Amazon had withdrew from the bid to purchase IPL broadcasting rights. According to reports, after making considerable investments in India, the company is no longer willing to invest in the IPL broadcasting rights.
IPL ranks first among the world’s most prominent franchise leagues. At $600 million, the tournament’s brand value is also rather substantial. Each season, around 600 million viewers watch this event on television.
Due to the exorbitant expense of the brand and the vast number of viewers, Amazon contemplated acquiring the broadcasting rights. After showing interest in acquiring IPL broadcasting rights, the firm was expected to compete with Walt Disney, Reliance Group, and Sony for ownership. However, with their choice to withdraw, the level of competitiveness decreased.
What precisely dissuaded Amazon from acquiring the IPL broadcasting rights? In response to this question, various media outlets stated, citing business officials, that Amazon had already spent 600 million rupees in India. The company is hesitant to invest in IPL promotion rights at this time.
In 2016, the Board of Control for Cricket in India (BCCI) sold Star Network the IPL broadcasting rights for a term of five years. After the 15th season of the Indian Premier League in 2022, the contract will end.
The BCCI will thus auction the fresh IPL broadcasting rights for the next five years (2023-28). According to several media outlets, the price of IPL broadcasting rights might approach $800 million.
Although Amazon has lost interest in getting the IPL broadcasting rights, the company is making significant investments to acquire the European football television rights. Amazon has also paid $1 billion for the broadcasting rights to the Thursday Night Football tournament.
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