ICC and JioStar break silence on media deal uncertainty
In response to mounting speculation and widespread reports of a split, the International Cricket Council (ICC) and JioStar have publicly reaffirmed the continuity of their media rights agreement in India.
The joint clarification comes after multiple media outlets reported that JioStar had communicated its intent to withdraw from the US$3 billion broadcast deal due to financial strain. But the two organizations have now categorically denied those claims.
“The International Cricket Council (ICC) and JioStar have noted recent media reports concerning the status of the ICC’s media rights agreement in India. These reports do not reflect the position of either organisation,” ICC and JioStar said in a joint statement.
ICC-JioStar deal remains in force amid financial headwinds
Despite industry rumors and concerns around JioStar’s economic sustainability, both parties have confirmed their ongoing commercial relationship.
“The existing agreement between the ICC and JioStar remains fully in force, and JioStar continues as the ICC’s official media rights partner in India,” the statement clarified, directly contradicting reports that suggested an imminent exit.
Adding further emphasis, the joint statement noted, “Any suggestion that JioStar has withdrawn from the agreement is incorrect.”
The ICC and JioStar entered the high-stakes four-year contract in 2022, covering global broadcast rights for marquee ICC events. But in recent months, signs of stress have emerged — particularly after JioStar’s audited financials revealed provisions for losses on sports rights more than doubling to ₹25,760 crore (approx. US$2.9 billion) in FY2024–25.
High costs, low returns: JioStar’s mounting challenges
JioStar’s decision to explore a potential exit stemmed from unsustainable losses and a widening gap between rights costs and monetization potential. A turbulent ad market and streaming’s limited profitability have made it difficult for broadcasters to justify massive outlays.
In particular, the Indian government’s ban on real-money gaming platforms — once the largest advertisers in cricket — created a ₹7,560 crore (approx. US$840 million) advertising vacuum that has not been filled by traditional sponsors.
Even before the Viacom18–Disney Star merger that formed JioStar, the deal’s economics were shaky. Star India had already posted a loss of ₹12,548 crore (approx. US$1.4 billion), much of it attributed to the ICC contract. The merged entity inherited the full obligation and has since struggled to stay afloat financially.
A united front ahead of the 2026 T20 World Cup
Despite these concerns, ICC and JioStar maintain that their collaboration remains on track — especially as the 2026 ICC Men’s T20 World Cup, to be co-hosted by India and Sri Lanka, approaches.
“JioStar is fully committed to honour its contractual obligations in letter and spirit. Both organisations remain focused on delivering uninterrupted, world-class coverage of upcoming ICC events to fans across India, including the ICC Men’s T20 World Cup, one of the sport’s most anticipated global tournaments. Preparations for these events are progressing exactly as planned, and there is no impact on viewers, advertisers, or industry partners. ICC and JioStar, as long-term commercial partners, maintain regular communication on operational, commercial and strategic matters focused on the role the partnership can play in growing the sport,” the joint statement concluded.
Prasar Bharati reportedly steps in as potential alternative
In the backdrop of the uncertainty, India’s public broadcaster Prasar Bharati has begun exploring a potential bid for the ICC rights. As first reported by BestMediaInfo, a senior Ministry of Information and Broadcasting official confirmed interest in acquiring at least part of the rights package if JioStar’s position weakens.
“It is possible that the ICC may decide to further break up the rights. For example, matches played in India versus those played outside, or tournament-wise. Whatever format finally emerges, we would certainly like to participate,” the official told BestMediaInfo.
However, the official also acknowledged regulatory and financial constraints, noting that Prasar Bharati’s ability to secure digital rights remains uncertain under the current Sports Broadcasting Signals Act, which only applies to linear TV.
Streaming giants approached but remain cautious
Amid these developments, the ICC has reached out to global and domestic platforms, including Sony Pictures Networks India (SPNI), Netflix, and Amazon Prime Video. But so far, none have committed to a deal, with most wary of the current pricing structure.
Industry sources say the ICC is now seeking US$2.4 billion for the 2026–29 cycle — a figure still seen as too steep by prospective bidders. SPNI, which already holds several cricket properties, has adopted a cautious stance after previously sub-licensing India–England Test series rights to JioStar to limit its exposure.
Future of the deal remains uncertain despite reassurances
While the ICC and JioStar maintain that their deal is intact, industry insiders suggest that behind-the-scenes discussions continue. The possibility of a renegotiation — or even a restructured distribution model — remains on the table if JioStar’s losses deepen or advertiser interest fails to recover.
With the 2026 T20 World Cup looming and broadcaster sentiment fragile, the ICC faces a narrowing window to resolve its most important commercial relationship in its most valuable market.
