ICC and Star India in Tension Over Revenue Concerns
we all know of competition that exists on the field right when we know when we talk about any major event it is called. the ICC event and whoever broadcasts it in the country they are called. The Host broadcasters but what if I tell you that there is now a serious tension and tussle going on between the ICC and the host broadcaster in India.
yes according to various Business Media reports
there is a serious tussle going on between ICC and star India, over the T20 World Cup 2024 Fiasco. everybody knows that yes India had won it India had garnered the the hopes of a million people of a billion really went skywards after India. won now what was hidden in the entire thing was the ongoing revenue losses, that happened course if you have to look at it there is tensions between IC and star India and the issue is usd3 billion media rights steel between 2024 to 2027 now after the end of the current FTB that ended in 2023.
There was a new media rights deal until 2027 now star sends letter to renegotiate the deal after losses in the advertising Revenue that happened in the 2024 T20 World Cup.
now this is a major bone of contention
now this is not small money that we are talking about it is USD 3 billion that means there is lots and lots of money involved at St here. now why has this letter been sent to the ICC primarily because of two factors one advertisers during the West Indies and the US leg they skipped the matches advertisers skipped it for a simple reason time zone the timings that were there for the matches everybody felt that oh why is the India been given special concession for all the games to be held at a particular time.umar Farooq
because there was huge Advertiser demand but despite those timings. The Advertiser stayed away inconvenient timings and erratic weather. now consider this particular aspect the New York games didn't give that much of exposure yes India Pakistan was a thriller but was a low-scoring thriller after that India had to go to Fort Lauder Hill but unfortunately at that time the weather played its part and no matches for India. were held there and after they came to the West Indies there also you saw some tget games being held except in the case of the Australia match at St Lucia now as per reports.
the there is no scope for renegotiation
because agreement has no clause for it the media rights deal and the agreement that is there. it is Ironclad there is no renegotiation possible and the ICC has one huge Ace up its sleeve that they announced the FTP much before so whatever was the FTP from 20124 to 2027 the future stour program. it was already announced 2 three years before the end of the cycle so that is.
why reports suggest that there is no renegotiation possible
now how much did star make in this entire advertising thing that happened in the T20 World Cup the reports the estimates are that advertising Revenue was rupees 1,200 CR. that star had gotten but the payout the amount that they had paid and the payout that they had given for the T20 World Cup at that time was 4,200 cror these are all in Nar a total loss of 3,000 crores has happened and because of this star has wanted to renegotiate the deal and it actually comes at a very very interesting backdrop when you look at the media scape at this point now you have to understand that prior to the start of the tournament star India had sublicensed.
the TV rights for USD 1.4 billion to Z but then Z backed out and because Z backed out star initiated arbitration proceedings for breach of contract now that is currently undergoing at the London Court of arbitration at this point amidst. all of this Walt Disney has agreed to merge its India unit with Viacom 18 which is Gio now the competition Commission of India is looking into it because imagine the windfall that's going to happen it's estimated to be somewhere close to 8.3 billion that is the current situation that is there so Star had subl licensed the TV rights deal to Z but Z backed out then star is currently in arbitration they're taking Z for breach of contract.
and now Walt Disney's India unit has merged with vom 18 all this seems to suggest that star now is in a desperate bit to renegotiate the deal but ICC is Ironclad about it because at this point in time whatever money you make it is through the broadcasting deal and whenever India does well the broadcasters land a windfall but at this point in time this tussle really threatens to ensure like how broadcasting is perceived at this point in time is it a profitable Venture is it a loss making Venture because of this are.
more Nations going to get marginalized when you have to look at hosting a major ICC event thank you so much folks for joining us for this video subscribe to sports today for all the latest news and Analysiswe all know of competition that exists on the field right when we know when we talk about any major event it is called. the ICC event and whoever broadcasts it in the country they are called. The Host broadcasters but what if I tell you that there is now a serious tension and tussle going on between the ICC and the host broadcaster in India.
yes according to various Business Media reports
there is a serious tussle going on between ICC and star India, over the T20 World Cup 2024 Fiasco. everybody knows that yes India had won it India had garnered the the hopes of a million people of a billion really went skywards after India. won now what was hidden in the entire thing was the ongoing revenue losses, that happened course if you have to look at it there is tensions between IC and star India and the issue is usd3 billion media rights steel between 2024 to 2027 now after the end of the current FTB that ended in 2023.
there was a new media rights deal until 2027 now star sends letter to renegotiate the deal after losses in the advertising Revenue that happened in the 2024 T20 World Cup.
now this is a major bone of contention
now this is not small money that we are talking about it is USD 3 billion that means there is lots and lots of money involved at St here. now why has this letter been sent to the ICC primarily because of two factors one advertisers during the West Indies and the US leg they skipped the matches advertisers skipped it for a simple reason time zone the timings that were there for the matches everybody felt that oh why is the India been given special concession for all the games to be held at a particular time.
Umar
because there was huge Advertiser demand but despite those timings. The Advertiser stayed away inconvenient timings and erratic weather. now consider this particular aspect the New York games didn't give that much of exposure yes India Pakistan was a thriller but was a low-scoring thriller after that India had to go to Fort Lauder Hill but unfortunately at that time the weather played its part and no matches for India. were held there and after they came to the West Indies there also you saw some tget games being held except in the case of the Australia match at St Lucia now as per reports.
the there is no scope for renegotiation
because agreement has no clause for it the media rights deal and the agreement that is there. it is Ironclad there is no renegotiation possible and the ICC has one huge Ace up its sleeve that they announced the FTP much before so whatever was the FTP from 20124 to 2027 the future stour program. it was already announced 2 three years before the end of the cycle so that is.
why reports suggest that there is no renegotiation possible
now how much did star make in this entire advertising thing that happened in the T20 World Cup the reports the estimates are that advertising Revenue was rupees 1,200 CR. that star had gotten but the payout the amount that they had paid and the payout that they had given for the T20 World Cup at that time was 4,200 cror these are all in Nar a total loss of 3,000 crores has happened and because of this star has wanted to renegotiate the deal and it actually comes at a very very interesting backdrop when you look at the media scape at this point now you have to understand that prior to the start of the tournament star India had sublicensed.
the TV rights for USD 1.4 billion to Z but then Z backed out and because Z backed out star initiated arbitration proceedings for breach of contract now that is currently undergoing at the London Court of arbitration at this point amidst. all of this Walt Disney has agreed to merge its India unit with Viacom 18 which is Gio now the competition Commission of India is looking into it because imagine the windfall that's going to happen it's estimated to be somewhere close to 8.3 billion that is the current situation that is there so Star had subl licensed the TV rights deal to Z but Z backed out then star is currently in arbitration they're taking Z for breach of contract.
and now Walt Disney's India unit has merged with vom 18 all this seems to suggest that star now is in a desperate bit to renegotiate the deal but ICC is Ironclad about it because at this point in time whatever money you make it is through the broadcasting deal and whenever India does well the broadcasters land a windfall but at this point in time this tussle really threatens to ensure like how broadcasting is perceived at this point in time is it a profitable Venture is it a loss making Venture because of this are.
Umar
more Nations going to get marginalized when you have to look at hosting a major ICC event thank you so much folks for joining us for this video subscribe to sports today for all the latest news and Analysis
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