IPL 2023 LIVE Streaming – Introducing Paramount+ India: To everyone’s surprise, Reliance-backed Viacom18 ended up spending 23,773 crore in the IPL Media Rights Auction. Some of the media pundits had raised questions about how Viacom would recover such an expense. But now the BIG PLAN of Reliance Viacom18 has been unveiled. Based on the IPL rights, Viacom18’s JV partner Paramount will launch its GLOBAL streaming service Paramount+ in India: Follow India Cricket News Updates & Sports Business News with InsideSport.IN
According to Robert Bakish, CEO of Paramount Global, Paramount+ will be launched in India next year. The premium streaming platform comes bundled with Viacom18’s super service
Bakish revealed the company’s plans during the Credit Suisse Communications Conference.
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Introducing Paramount+ India: He announced that the streamer will be launched in India with his JV with Viacom18.
“We will also start in India. We’re really looking forward to that. We do this with our JV Viacom18 which as you know is a partner of Reliance.
Reliance is the most powerful company in India and has now got Bodhi Tree involved too. You just got the exclusive streaming rights to Cricket. Now the cricket won’t 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 drive next to the great service and benefit for the market and are very enthusiastic about this model”, Added bakish.
IPL media rights value: 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.
Almost 52% of the funds came from Viacom18 stable. Viacome bagged Package B (Digita rights for India), Package C (non-exclusive rights to select games) and some of the OVERSEAS territories rights.
- Package A: Sold to Disney Star for 23,575 Cr
- Package B: Viacom bagged the package for 20,500 Cr
- Package C: Viacom got this NON-EXCLUSIVE package 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 to the AUS, SA and UK territories while Times Internet bagged the MENA and US sectors.
Introducing Paramount+ India – Paramount’s CEO added that growing international business is the key strategy for STREAMING SERVICE growth. According to him, the launch in the Indian market will further strengthen its global position.
“International is very important to me. I spent a decade running our international business before becoming CEO of Viacom.
We are excellently positioned to grow streaming internationally by leveraging our international footprint.
And I would suggest you, I mean, you mentioned Pluto, we’re over 67.5 million MAUs if you include Latin America, you include Europe, and we’ve recently entered into some groundbreaking partnerships for the next phase of growth. The start in India will be important” he added.
Bakish shared that the company has just acquired another set of sports rights for Brazil. According to him, addition of the football league in Brazil, which in his opinion will be “Very complementary to our efforts – our Paramount+ efforts in this market.”
Media Rights IPL Bid: BCCI earns 48,390 crore as Disney gets broadcast rights, Viacom wraps up Digital & Packet C