Star India on Thursday bagged the Indian cricket board's international and domestic media rights for the period April 15, 2018-March 31, 2023 for Rs 6138.1 crore.
The average per match cost for Star India, which overcame bids from Reliance Industries Limited, and Sony Pictures Networks India Private Limited during the online auction, is Rs 60.13 crores.
"Star India is excited to continue its deep association with Team India and Team @BCCI to bring this amazing sport of Indian cricket to over a billion fans across the world," CEO Uday Shankar said, as quoted by the Star TV Netwrok's Twitter handle.
Sony Pictures Network India listed Rs 6118.59 crores in bids for the rights that also include men's domestic matches as well as the India women's international matches.
The auction started on Tuesday and stood at Rs 4,244 crores. On Wednesday, the top bid was Rs 6061.05 crores.
The bid is in the Global Consolidated Rights (GCR) category, which comprises the worldwide television and digital rights to international cricket hosted by the BCCI in India.
The Board of Control for Cricket in India (BCCI), through its Invitation to Tender (ITT) had invited bids for Global Television Rights plus Rest of the World Digital Rights Package, Indian Subcontinent Digital Rights Package and Global Consolidated Rights Package.
A Business Standard report states that after paying a bill of Rs 12.26 billion every year for the BCCI rights, making money will be a challenge for Star India. However, Star is reportedly hoping for a massive increase in viewership coupled with its digital thrust to increase ad rates. It is looking to increase its viewers by 40% in the case of IPL as well.
And taking into account 78-88 matches of international cricket every year for the next five years and in addition to that, the ICC World Cup, Asia Cup, etc, BS reports that in just 2018-19 Star will have more than 65% of the international cricket days under its belt.