Sony Pictures Networks India (SPNI) has secured the media rights for New Zealand Cricket (NZC) matches in India in a deal valued between $90-$100 million (Rs 749-Rs 833 crore) as per ET. This significant acquisition strengthens SPNI’s position as a major player in the Indian sports broadcasting landscape.
Sony India boosting sports portfolio
SPNI, already boasting the media rights for cricket boards like England and Sri Lanka, has further expanded its portfolio with this acquisition. The agreement grants them broadcast rights for NZC matches across television and digital platforms from May 2024 to April 2031.
Tour Down Under: India Cricket Team in New Zealand
The deal encompasses two tours by the Indian cricket team to New Zealand, featuring a total of 24 matches across Test matches, One-Day Internationals (ODIs), and T20 Internationals. Indian fans can look forward to these high-voltage encounters between two cricketing powerhouses.
SPNI’s Growth Strategy
Rajesh Kaul, head of SPNI’s sports business, highlighted the significance of this acquisition to ET: “The addition of NZC rights bolsters our sports portfolio as New Zealand is one of the most respected cricket teams globally.” He further hinted at SPNI’s continued expansion plans: “We are evaluating a couple of other cricket rights that will become available… We will be prudent while bidding for cricket properties.”
Eye on Prize: Upcoming Bidding War
This move by SPNI comes as the Asian Cricket Council’s (ACC) media rights deal with Star India nears its expiration. The broadcasting rights for this prestigious tournament are expected to be up for grabs later this year. The NZC deal signifies SPNI’s intent to be a major contender in this upcoming bidding war.
SPNI Flexes Muscles
The acquisition of NZC media rights marks SPNI’s second major sports rights acquisition since the collapse of its merger deal with Zee Entertainment in January. This move demonstrates SPNI’s continued commitment to securing premium sporting content for the Indian audience.
