Star Sports earns Rs 2400 crore from IPL 2020
The BCCI has successfully concluded this year’s IPL season after a series of crises following the devastation caused by the coronavirus. It has already been reported that the BCCI is planning to field new teams next season, though there will be no major revenue loss from the series. According to the latest reports, we came to know that, Star Sports Earns approx Rs 2400 Crore from this IPL 2020 tournament despite the deadly Coronavirus.
According to economists, the BCCI will lose some of its revenue. Meanwhile, it has been revealed how much revenue Starsport, which has acquired the rights to telecast IPL matches, has earned. Accordingly, Starsport TV, which had taken over the broadcasting rights for a large sum a few years ago, has been broadcasting IPL matches not only in India but all over the world for the last few years.
Accordingly, the competitions were telecast live in several state languages such as Tamil and Telugu, and English. It has been reported that Star Sports has a revenue spearhead of Rs 2,400 crore for this season. However, Star Sports is said to be in mourning. That means that various companies that have been inactive for the past 6 months due to Corona will not be signing advertising in this series.
But advertising deals also got unexpected. It has been officially stated that Star Sports has earned Rs 2250 crore from television and Rs 250 crore from Hotstar. Although this revenue was high it was expected that the number of fans watching the matches would decrease due to the circumstances including Lockdown. But the number of fans who watched this year’s matches was higher than ever.
Despite the increase in the number of visitors, the revenue for Starsports has increased by a single-digit percentage this year. It is also said that a large amount of profit would have been made if more advertisements had been contracted in advance. But economists close to Star Sports say profits have plummeted since the ads were contracted ahead of the current IPL series. It is noteworthy that Star Sports has signed 18 sponsors and 117 advertisers this season alone.