Why did Facebook bid for the IPL media rights?

Star India acquired the media rights for IPL earlier this week.

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IPL Trophy. (Photo Source: Twitter)

One of the most surprising bids in the recently concluded media rights events of Indian Premier League (IPL) was of Facebook. The social media website bided for a massive Rs. 3900 Crore (approximately $600 million) during the auctions on Monday. Unfortunately, the bid failed but it raised numerous questions over Facebook trying to claim the IPL digital media rights for India.

Mark Zuckerberg offered to pay close to Rs. 800 Crore per year for the digital rights of IPL to Board of Control of Cricket in India (BCCI). The amount was 8 times greater than what Star was paying previously (Rs. 100 Crore). However, it would have been interesting to see the way Facebook would have marketed the league at such a high cost.

Not the first time Facebook is into the sports

Though the bid from Facebook has raised a lot of eyebrows, this is not the first time the company made a foray into the sports broadcast business. It had previously tried to go for the rights for 10-game Thursday night NFL matches which they couldn’t and the rights went eventually to Amazon and Twitter.

Last year, Facebook successfully streamed an NBA game between Golden State Warriors and Sacramento Kings live in India. The match available on their website on the official page of NBA and the link was shared on every user’s wall. The venture was extremely successful and that has led Facebook to develop an interest in the cash-rich IPL. The bid was also the largest ever by FB for a sports property.

According to Mumbai Mirror, the need for live streaming led the management of the leading social media website to invest in the IPL digital media rights. It has also been reported that Zuckerberg has found virtue in original content.

Earlier this week, the media rights of the cash rich Indian league went to Star India for a whopping Rs. 16347.50 Crore.

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