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Disney Star and Zee Entertainment had entered into a licensing agreement for the television rights of the International Cricket Council (ICC) Men’s and Under-19 tournaments for 2024-27.
Days before entering into the licensing agreement, Disney Star retained both the TV and digital rights for $3 billion for the ICC Men’s, Women’s, and Under-19 tournaments till 2027.
It is said that the licensing deal has been valued at $1.5 billion, aggregating to 50% of the auction value of $3 billion.
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“Digital is a big area of focus for Disney worldwide and in India,” an executive in the know said. “An interested party for the television rights has allowed Disney to defray its costs as far as the acquisition of the combined ICC rights is concerned. At the same time, it is keeping digital rights. This is a win-win for Disney,” the executive said.
Viacom18 has received the broadcasting rights for IPL at an amount of Rs 20,500 crore, while the television rights were retained by Disney for Rs 23,575 crore.
“By securing the IPL television broadcast rights for 2023-27 and now opting to retain only the digital rights for ICC tournaments for 2024-27, we have in place a balanced and robust cricket offering for our audiences across linear and digital,” said K Madhavan, country manager and president of Disney Star.
“The association with Disney Star reflects our sharp, strategic vision for the sports business in India,” said Punit Goenka, managing director, and chief executive officer, of Zee Entertainment.
Getting television rights after 6 years will help Zee to build a strong broadcasting base in the sports arena. Meanwhile, Zee has got the global broadcasting rights for UAE T20 this May for 900 crores.
-by Gautam
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