The famous IPL is now going on. Needless to say, it is one of the biggest and most money making sports events in India. The fans of cricket are in anyways frenzy about any cricket event and IPL is a big one.
Despite everything that is supposed to be favorable, both TV and digital partners of the event are in heavy disappointment. The ad revenues last year were massive ₹4600 crores that have dropped down to ₹3000 crores.
Quite obviously, the decline is steep and was not anticipated. Before this, both TV and digital rights were under Star Media as the match was telecasted on Star Channels and Disney+Hotstar. However, things changed last year when Viacom 18 grabbed the digital rights of the event. On the other hand, Star group retained the TV rights.
This division may have led to a lack of coordination ultimately leading to a lack of revenues.
As the TV market is bigger than the digital market in IPL, so are the deficits.
Regardless, there can be several other factors too which are related to economics. However, the companies should check the reasons that led them to such a condition.
Last minute efforts by companies remain ineffective and the worse thing that can happen because of this is the production value next year.
Let’s see what the outcomes are.