IPL Media Rights Value – Lalit Modi BIG PREDICTION: Earlier this week, BCCI secured Rs 48,390 crores by selling the Indian Premier League (IPL) Media Rights for the 2023 to 2027 cycle. The former chairman of IPL, Lalit Modi now has made BIG PREDICTION for IPL NEXT RIGHTS Cycle. In an interview with NDTV Modi predicted IPL MEDIA Value will be doubled next cycle: Follow Indian Cricket LIVE Updates with InsideSport.IN
Lalit Modi’s BIG PREDICTION
- Prediction 1 – IPL will be the No. 1 Sports League in the WORLD by next rights cycle
- Prediction 2 – IPL Media Rights Value will be DOUBLED and cross 1 LAKH CRORE benchmark.
“The price of IPL will continue to double. If you look at all my interviews from 2008, I said that IPL value will double in terms of media rights. It has gone up by 98 per cent from the last cycle. From the last cycle to this cycle is 98 per cent and I am telling you going forward in the next cycle, it will double again.”, Modi told NDTV.
IPL Media Rights Value: Lalit Modi makes BIG PREDICTION, ‘IPL Values to double in the next cycle, will cross 1 LAKH CRORES’
Lalit Modi has put emphasis on the OTT platforms. The digital rights he believes will overtake television in regard to revenue and viewership.
According to Modi in the next five years, the digital rights value will be three-four times of television.
He mentioned that the money should be invested in technology related to digital platforms, which will improve the user experience.
The former IPL Chairman said “I have always maintained, and everybody laughed at me, that IPL is recession proof. It really is coming out to be true that is recession proof as far as India is concerned.
We have got newer and newer fan bases that are joining in. But we have to be careful going forward. Because the younger age group is mostly on digital, that is why the digital rights have gone up tremendously in price. Their experience has not been so good in India today as far as watching it on a particular platform.”
According to Lalit Modi, IPL has been able to do the clean-up act and is heading in the correct direction with the new franchise (Gujarat Titans) winning its first IPL title in its first season.
Also, he added that there is faith now in the games and no fixing anymore.
Lalit Modi was the first Chairman and Commissioner of the Indian Premier League.
He was involved in managing the franchise cricket league from 2008 to 2010. Furthermore, he was the Vice-President of the BCCI from 2005 to 2010.
In 2010, in the midst of allegations related to tax evasions, money-laundering and proxy ownership Lalit Modi left India and is based in London for the last few years.
He was suspended by BCCI due to allegations of financial irregularity and in 2013 he was banned for life.
At the IPL Media Rights e-auction, Disney Star won the TV telecast rights at the cost of Rs 23,575 crores.
Mukesh Ambani-backed Viacom18 won the rights for package B and package C with the bid price of Rs 23, 758 crores (Rs 20, 500 for package B and Rs 3,258 crores for package C). Package D rights are shared by Viacom18 and Times Internet for Rs 1,324 crore. USA, UK and SA territories will be covered by Viacom18 and Times Internet secured MENA and US sectors.
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