Reliance Industries owner Mukesh Ambani has made it possible for everyone to stream IPL for free this year. Viacom18 Media Pvt., a joint venture held by Paramount Global and Reliance Industries Ltd. booked the IPL streaming rights for a humongous amount.
It’s no big surprise that telecasting rights for one of the most-watched sporting events would cost too much. However, in this case, Ambani paid three times more than the last IPL streaming rights owner Disney and all of that just to stream IPL for free on Jio.
Stream IPL for Free on Jio: Ambani’s Mastermind
Indian billionaire business tycoon Mukesh Ambani definitely has some sort of hunch for making a profit by taking risks. Otherwise, who would invest $2.7 billion (23,758 crores) just to stream one of the most-watched sporting events IPL for free?
Ambani challenged Walt Disney and Amazon Inc. to win the bid and own the streaming rights for IPL 2023. Ambani bid $2.7 billion to stream IPL on Jio for free. On the other hand, former stream rights owner Dinsey, who lost the bid streamed IPL to bring new subscribers to its platform and charged for subscriptions as well.
Source: BW Businessworld
Ambani’s Mastermind Behind the Deal
Ambani’s business tactics are far supreme and that is what makes him elite above all. He might not charge his subscribers and stream IPL for free on JIO but he will earn from advertising campaigns. For instance, Google and Facebook earn way more from their subscription-free platforms from advertisements than platforms like Netflix which earns from subscription packs.
Source: DreamDTH
How Much Profit Would Ambani Make Out of IPL 2023?
Ambani’s mastermind has already stagged the amount of audience that will stream IPL for free on Jio. Not only that, due to earlier subscription models, the audience was limited but this time the number of users will drastically increase.
According to reports, Jio will stream IPL catching more than 550 million users until the end of IPL 2023. The IPL 2023 will begin on 31st March and would continue for more than 2 months. One IPL match runs for three hours on average and the advertisements run after every over sometimes they run for longer durations during a strategic time-out and innings breaks.
Ambani’s Viacom18 has booked a streaming contract for 5 years and this will in turn result in countless advertisement agencies wanting to work with Jio. Ambani has already booked more than half of billion users making his stand quite rigid. Probably, Viacom18 would have already booked enough advertisements for the IPL 2023 that the fees paid for the IPL streaming license can be recovered in just one year.
Also Read: BCCI Might Ban Sri Lanka & Bangladesh from IPL Forever!! See Why??