Sony secures Asia Cup media rights at base price of $170 mn, JioStar opts out

MUMBAI: Sony Pictures Networks India (SPNI) has acquired the media rights for all Asian Cricket Council (ACC) tournaments from 2024 to 2031 at the base price of $170 million. 

This represents a 70% increase over the previous cycle, but surprisingly, there was no competitive bidding this time—a rare for major cricket rights in an otherwise fiercely contested market.

For the first time since 2012, premium cricket rights have been sold at the base price.

The acquisition is a significant win for SPNI, with Gaurav Banerjee, the newly appointed MD and CEO, managing to secure marquee tournaments at a relatively modest valuation compared to the increasingly prohibitive prices seen for International Cricket Council (ICC), the Board of Control for Cricket in India (BCCI), or the Indian Premier League (IPL) rights. This is the first time SPNI has won a cricket property right in auctions.

“With these rights, Sony now boasts a robust and exciting cricket calendar. We already have rights to the England Cricket Board and New Zealand Cricket, and over the next eight years, we will feature the Indian cricket team every year,” said It feels good,” Banerjee told Mint. “This is a significant win for our multi-team sports strategy and a big step forward for us.” 

In 2025, SPNI will kick off Indian cricket in June with India’s tour of England, followed by the Asia Cup in September.

“It’s a clean, well-structured calendar that ensures consistent, meaningful content with the right financial value,” he said.

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Asia Cup tournaments include marquee India-Pakistan matches. “ACC tournaments have created unforgettable moments and set the stage for the most intense Asian cricket rivalries. We eagerly look forward to sharing the thrill and spirit of these matches with cricket fans.”

For SPNI, its flagship channel Sony Entertainment Television has seen a significant jump in viewership over the last few weeks. Last week’s gross rating points or GRPs closed at 89 compared to around 60 GRPs two months ago. 

JioStar’s absence 

The absence of JioStar, the recently merged broadcasting giant, from the bidding process has surprised many. Star India, now part of JioStar, has consistently competed for premium cricket rights, including ICC, BCCI, IPL, and ACC tournaments since 2012.

In a recent interview with India Today, Uday Shankar, vice chairman of JioStar, hinted at the shift in strategy, taking a firm stand against what he termed the “fear of missing out” (FOMO) mentality among broadcasters. “We no longer suffer from FOMO. If we don’t bid for the next cycle of ICC rights, we can comfortably sit it out, and it won’t make a dent in our business,” Shankar stated, signalling a warning to sports governing bodies over escalating rights valuations.

It is learned that JioStar has renewed the rights to the Premier League (EPL) for the next rights cycle, starting next year. 

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Boost for Asian Cricket

The ACC rights package includes key tournaments such as the men’s and women’s Asia Cups, under-19 Asia Cups, and emerging teams Asia Cups, ensuring extensive coverage across television, digital, and audio platforms.

Jay Shah, president of the ACC, said the “substantial increase” in rights value would enable the council to allocate significant resources toward grassroots programmes, infrastructure development, and talent pathways, particularly benefiting associate nations.

In the previous rights cycle (2016-23), Star India had picked up the media rights for the Asia Cup for $100 million.

ACC had in September released its invitation to tender for the acquisition of its media rights (including television, digital, and audio rights) for the global territory for the tournaments taking place during the rights period from 2024 to 2031.

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