Six additional bidders join race for IPL media rights

Six additional bidders join race for IPL media rights

Six more companies - including Discovery, Airtel, BAM Tech, Yupp TV, DAZN / Perform Group and Yahoo - have expressed interest in bidding for the IPL media rights. This brings the total count to 24 companies. Brands such as Star India, ESPN, Amazon and Reliance Jio are some of the 18 others who will be contending for the television and digital rights of IPL.

The deadline for submission of sealed bids is September 4.

After the 10th edition, IPL had a valuation of $5.3 billion, according to global valuation and corporate finance advisor Duff & Phelps. As per Sony Pictures Networks India, IPL crossed a viewership of 400 million in the 10th season. IPL's digital partner Hotstar clocked advertisement revenues of $1.2 billion.

Vivo recently renewed the contract for IPL title rights with a massive 554 percent rise in sponsorship money (Rs 2,199 cr). The media rights for the next five seasons are expected to be a ground breaking figure, with brands willing to invest heavily in this cash-rich tournament.