Last week, Disney Star retained the TV and digital broadcast rights for the next cycle of matches (2024-27) with an overall bid of around $3 billion, as against the benchmark price of $1.44 billion set by the ICC.
Under the arrangement with ZEE, Disney Star will stream matches in India only on its digital platform Disney+ Hotstar, the companies said in their joint statement on Tuesday.
Although the broadcasters did not disclose the financial details of the deal, ET has learned that ZEE will buy Disney Star 30-40% of the total rights value for the rights drawn over a four-year period – between $900 million and $1.2 billion. The middle will pay. , A person with knowledge of the matter said, “Right now the revenue from TV is much higher than that of digital, but the equations are changing rapidly, which is also reflected in the way these broadcasters are bidding for IPL rights. .’
ICC approval
“Also, India’s matches will have to be shared with Prasar Bharati under the mandatory sharing clause for sports of national importance, which would have prompted ZEE to bargain hard,” the person was quoted as saying earlier.
Both companies said that the ICC has approved the arrangement in principle. However, sources close to the ICC board told ET that the proposal is yet to be approved. “Disney Star had informed the ICC about the possibility of such an arrangement and it is provided for in the contract,” he added.
“This is a first of its kind partnership in the Indian media and entertainment landscape, and this association with Disney Star reflects our sharp, strategic vision for the sports business in India,” said Puneet Goenka, Managing Director, ZEE. Statement. “As a one-stop television destination for ICC men’s cricket events by 2027, ZEE will leverage the strength of its network to deliver a compelling experience for viewers and great return on investment for its advertisers.”
Goenka, who is also the Chief Executive, said, “Long-term profitability and value-creation remain our areas of focus in the business, and we will always evaluate all necessary steps that will enable us to make the game an attractive value proposition. . for the company.”
Disney Star Country Manager K Madhavan said, “By securing IPL television broadcast rights for 2023-27, and now opting to retain digital rights only for ICC tournaments for 2024-27, we have a balanced and strong cricket offering to our audiences across linear and digital.”
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