IPL 2023 LIVE Streaming – Paramount+ India Launch: Reliance supported Viacom18 eventually released 23,773 Crore at IPL Media Rights Auction. Some media pundits had been asking questions about how Viacom will recoup such an expense. But now the BIG PLAN of Reliance Viacom18 and the JV Partner has been revealed. Based on IPL rights, Viacom18’s Partner Paramount launches their GLOBAL Streaming service Paramount+ in India: Follow India Cricket News Updates & Sports Business News with InsideSport.IN
According to Paramount Global CEO Robert Bakish, Paramount+ will launch in India next year.
The premium streaming platform is bundled with Viacom18’s super service. Bakish announced the plans at the Credit Suisse Communications Conference.
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Paramount+ India launch: Bakish has announced that the streamer will be launched in India with its joint venture with Viacom18.
“We are going to launch in India. We are very excited about that. We do it with our joint venture, Viacom18, which as you know is a partner in Reliance.
Reliance is the most powerful company in India and now has Bodhi Tree involved. They just got the exclusive streaming rights to cricket. Now the cricket will not be on Paramount+ but Paramount+ will be bundled with their super service.
So again, we don’t need to invest in local content. We don’t need to invest in local marketing. We are driving along with the super service.” Bakish added.
How much did Viacom18 end up spending on acquiring IPL media rights?
Value for IPL media rights: It is worth noting that BCCI raised a total of 48,390 Crore from the sale of IPL media rights for the 2023-27 cycle.
Of this, almost 52% of the money came from Viacom18 stable. Viacome picked up Package B (Digita Rights for India), Package C (non-exclusive rights of selected matches) and some of the OVERSEAS Territories rights.
- Package A: Sold to Disney Star for 23,575 Cr
- Package B: Viacom packed the package for 20,500 Cr
- Package C: Viacom got these NON-EXCLUSIVE packages for Rs 3,273 Cr
- Package D: Overseas TV and Digital Rights are shared by Viacom18 and Times Internet for Rs 1324 crore. Viacom18 won the rights of AUS, SA, UK Territories, while Times Internet took home the MENA and US sectors.
International expansion plans of paramount importance: The Paramount CEO added that growing international business is the company’s key strategy.
According to him, the launch in the Indian market will further strengthen their position worldwide.
“International is close to my heart. I ran our international business for ten years before becoming CEO of Viacom.
We are extremely well positioned to grow streaming internationally by leveraging our international operating footprint.
We recently entered into some groundbreaking partnerships for the next phase of growth. Launch in India will also be important” he added.
Bakish also said the company has just picked up a new set of sports rights for Brazil.
IPL Media Rights Tender: BCCI Earns 48,390 Crore While Disney Gets Broadcast Rights, Viacom Gets Digital & Package C
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