IPL Media Rights: Even after leaving the TV take in IPL, Ambani hit a quartet, understand how
New Delhi: Mukesh Ambani did not take the IPL TV rights, which the Walt Disney Company took for $3 billion. Now people are talking about how the TV rights (IPL Media Rights) got out of the hands of such a big billionaire? In fact, the television rights did not come out of his hands, but he saw limited opportunities there, so he left it. Mukesh Ambani’s Reliance Industries Limited and US giant Paramount Global’s joint venture “Viacom 18 Media Private Limited” focused on digital rights (IPL Digital Rights). According to someone related to the topic, in the next 5 years digital advertising revenue will increase up to four times compared to TV. At the same time, it is believed that television will also have to struggle for double-digit growth during this period.

Initially, an offer was also made for the television rights

Ambani’s company, Viacom18, even bid for the TV rights in the early stages of the IPL auction, but the company’s main goal was to acquire the digital rights. Viacom18 has paid 238 billion rupees ($3.1 billion) for the digital rights to the IPL tournament, one of the most watched sports in the world. In other words, if we see the amount of money that Walt Disney gave for television rights, Mukesh Ambani spent almost the same amount for digital rights.

E-commerce and entertainment in one place

Mukesh Ambani’s decision to acquire the digital rights and relinquish the television rights is a decision to realize the ambitions of Reliance Jio Infocomm Ltd. Currently, the richest man in the country, Mukesh Ambani, wants to create an ecosystem that can attract people connected to smartphones to engage in e-commerce and entertainment. That is, everything will be provided to customers in one place.

Mukesh Ambani saved billions of dollars

Mukesh Ambani saved billions of dollars by quitting TV rights. It is expected that he can use this money in the 5G spectrum auction. The head of the Cricket Board of Control in India, Jay Shah, has said that the number of internet users in India will reach 90 million in the next 5 years. Television was once the main source of entertainment for middle-class families, but especially after the corona pandemic, online streaming quickly replaced it.

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Mukesh Ambani has already bought the media rights for all the games

Reliance will use its IPL rights to enhance Voot, Jio and other streaming and digital platforms. Viacom 18 has already acquired the media rights for football, badminton, tennis and basketball competitions. Thus, Mukesh Ambani’s sports portfolio now includes many sports. People have different enthusiasm for sports in the country which can become a way to increase Mukesh Ambani’s income.

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