advertisement
Losing the Indian Premier League broadcast rights to Star India was disappointing but Sony Pictures Networks believes it has enough cricket in its portfolio to challenge their main rivals after striking a new deal with Cricket Australia.
SPN, owned by Sony Corp, acquired the rights to broadcast Australian cricket in the Indian subcontinent, including Pakistan and Sri Lanka, for the next six years for an undisclosed amount.
The deal came after they lost out to Star India for the IPL rights last month, but Rajesh Kaul, the president of SPN's Sports and Distribution Business, believes the failure to land the rights for the highly successful T20 competition was not crucial.
India's huge market is a major draw for sponsors and advertisers, who often plan product launches around major cricket tournaments and book advertising slots in advance in turn leading to a stiff race between broadcasters to secure content.
Star India, a unit of Rupert Murdoch's Twenty-First Century Fox, bid a staggering 163.48 billion Indian rupees ($2.52 billion) to bag the worldwide television and digital rights of the IPL for the next five years.
Star also owns rights to India's home matches and paid $757.6 million for the period from July 2012 to March 2018.
Those rights will be up for bidding soon, which could see another round of intense bidding from the two major players in the Indian market.
The Ashes series between Australia and England around the New Year will be the first fruits of their deal with Cricket Australia.
The deal strengthens their position after last year they paid $385 million to acquire TEN Sports, which owns rights of cricket boards in South Africa, Pakistan, Sri Lanka, West Indies and Zimbabwe.
SPN also struck a deal in 2015 with sports broadcaster ESPN, a Walt Disney unit, to launch new channels and foray into digital market.
Besides broadcasting the NBA and the NFL in India, SPN also holds rights for the 2018 FIFAWorld Cup in Russia, the ongoing under-17 World Cup, and soccer leagues such as Spain's La Liga and Italy's Serie A.
(At The Quint, we question everything. Play an active role in shaping our journalism by becoming a member today.)