Amazon Inc. is planning to pull away from an edged competition for the rights to stream the Indian Premier League (IPL) cricket matches, according to the reports received from concerned parties. Thus, ceding to one of its components Walt Disney Co. or to Mukesh Ambani’s Reliance Industries Limited.
The IPL streaming rights is estimated to be worth approximately $7.7 billion. The US conglomerate is considering stepping aside from the race. Rather than engaging in a bidding battle, according to the sources, who asked to remain anonymous. Because they continue to emerge in internal discussions that could affect long term investments. While Amazon has already invested more than $6 billion in the nation. Moreover, they claim that investing more for the league’s internet streaming rights would be a waste of money.
Amazon’s withdrawal has left a void. Which soon could be filled by Mukesh Ambani’s Reliance Industries Limited (RIL), Disney and Sony Group. The companies have come to take gain out of a significantly growing opportunity. Because if they succeed, it would ensure their control over the Indian consumer market significantly.
Amazon to pull out of Rs 60,000 crore IPL race
With IPL being a multiweek tournament gaining a lot of popularity in today’s time. Any media company which gets broadcast rights would control the way IPL streaming works. And they would be able to gain a major sway over the population of 1.4 billion viewing the IPL. As well as they would gain the position of a strong media player in the country.
According to Bloomberg News, Amazon was initially intended to win the IPL streaming rights. Which is one of a half-dozen global sports franchises key interest. The American giant had previously spent hundred and millions of dollars on its European soccer rights.
IPL has always been an exciting sport for the entire country and its franchise is worth over 7 billion dollars according to BCCI. While the bidding war continues only time will entail who makes the clean sweep to the streaming rights.
