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In a major development, Sony Pictures Networks India (SPNI) has outmaneuvered the Jio-Star Network, securing exclusive broadcasting and digital rights for the Asia Cup and associated tournaments for the period 2024–2031. The deal, finalized at a base price of $170 million, marks a 70% increase in value compared to the previous rights package (2016–2023), which was sold for $100 million.
Details of the Deal
The agreement, organized by the Asian Cricket Council (ACC) and concluded through an e-auction on November 15, grants Sony rights to broadcast:
- Men’s and Women’s Asia Cups
- Men’s and Women’s Under-19 Asia Cups
- Men’s and Women’s Emerging Teams Asia Cups
This deal ensures Sony’s platform will showcase at least four Men’s Asia Cups (two in the ODI format and two in T20I format), along with multiple other prestigious tournaments.
India-Pakistan Matches Drive Value
A key highlight of the Asia Cup is the guaranteed India vs. Pakistan matches, which are among the most-watched sporting events globally. Each Asia Cup edition ensures at least two India-Pakistan encounters, with the potential for a third if the two teams meet in the final. Over the next eight years, this could deliver a minimum of eight blockbuster clashes, contributing significantly to viewership and ad revenues.
Jio-Star’s Absence at the Auction
The Jio-Star Network, a previous rights holder and considered a strong contender, made a surprising decision to withdraw from the auction process at the last minute. This unexpected move left Sony as the sole bidder, allowing them to acquire the rights at the base price.
Sony’s Growing Cricket Portfolio
The Asia Cup rights bolster Sony’s cricket portfolio, which already includes broadcasting rights for:
- England Cricket
- New Zealand Cricket
- Sri Lanka Cricket
The addition of the ACC rights underscores Sony’s strategy to expand its dominance in sports broadcasting. All matches under this package will be available on Sony’s linear TV channels and OTT platform SonyLiv, ensuring broad access across India and other regions.
Auction Overview
The e-auction, facilitated by M-Junction, commenced at 11 AM UAE time, where Sony clinched the rights without facing competition.
This victory not only strengthens Sony’s foothold in cricket broadcasting but also sets the stage for thrilling Asia Cup tournaments that promise some of the fiercest rivalries in world cricket, including high-stakes India-Pakistan encounters.
