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...For IPL teams, these offer promising avenues to building international portfolios and attracting global investors, mirroring the strategy of sports conglomerates such as City Football Group....
...Disney suffered a major setback last year when it lost the rights to stream the popular IPL cricket tournament from 2023-27, in a record $6.2bn auction....
...Investor enthusiasm for Disney’s India business began to fade last year after the company lost the online rights to stream the popular IPL tournament from 2023-2027....
...The IPL now ranks among the most stunning commercial success stories in global sports, with Bollywood among the most clueless flops in film industry history....
...“India’s influence in global cricket cannot be overstated,” said Arun Dhumal, the IPL’s chair and a former BCCI executive....
...It has bought the rights to shows and films made by global networks NBC, HBO and Warner Bros....
...Disney’s subscribers in India peaked in September 2022 at 61.3mn, accounting for roughly 40 per cent of global viewership....
...Byju’s and Dream11 outspent such global powerhouses as Procter & Gamble, Mondelez, Coca-Cola, Pepsi and Nestlé....
...Disney, which still holds the IPL TV rights, is now in talks to sell its India business, according to multiple reports (The company declined to comment)....
...Laser is often more effective: IPL can be more versatile....
...A global slowdown is likely to weigh on advertising budgets, with consultancy Media Partners Asia estimating IPL ad outlay to be flat from last year at around $550mn....
...Ideologues seek to convince us that the contributions of ancient Hindus in astronomy, yoga, philosophy and mathematics (we invented the zero, don’t forget) predestine India for global leadership....
...CVC has also carved out a niche investing in sports, taking stakes in Six Nations Rugby and the women’s professional tennis organisation WTA, as well as buying an IPL franchise....
...Global and Indian companies line up to sponsor or advertise during matches....
...But Disney lost its grip on the rights to the IPL last year....
...More than a decade after the IPL revolutionised the game in India, its clubs are going on a global acquisition spree....
...The growth of women's cricket in England and Australia is great, but in order for women's cricket to succeed on a global level, India needs to be at the centre....
...Viacom18 — a joint venture between Mukesh Ambani’s Reliance Industries, James Murdoch and Paramount Global — spent a similar sum for the digital rights....
...This is not moving output to anywhere from anywhere, it is about expanding total global output.” ...
...The IPL was watched by more than 600mn viewers this year....
...Participants say bidders will include Disney’s Star, Sony Pictures, Amazon and Viacom18, which is jointly owned by Mukesh Ambani’s Reliance Industries, ViacomCBS — recently rebranded as Paramount Global...
...Given the packed global cricket calendar, this would mean fewer international fixtures, such as bilateral T20 series. “The league has to become bigger,” Santosh insists....
...Disney shares were down 3.6 per cent on Monday amid a broader sell-off in US and global stocks....
...Those trends are likely to continue even in the face of a darkening global economy, which we explore in our Saturday long read on the resilience of sports assets here....
...“The owners of the IPL franchises are not interested in the health of cricket; they are interested in getting the most from their assets,” says one official, who wishes to remain anonymous....
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