A billion-dollar deal unravels
Just months before the ICC Men’s T20 World Cup in early 2026, cricket’s broadcasting landscape in India has been thrown into disarray. A few days ago, Economic Times reported that JioStar—the merged entity of Viacom18 and Disney Star—had informed the International Cricket Council (ICC) that it would not be able to honour the final two years of its India media rights deal, originally valued at ₹25,760 crore (approx. US$ 2.9 billion). The decision has left the ICC in a tight spot, forced to retender the rights for the 2026–29 cycle amid heightened uncertainty.
The deal, signed before the merger, was already under financial stress. With advertising revenues down and subscriptions stagnating, monetising ICC events proved more difficult than anticipated. According to a seasoned industry insider speaking to Exchange4Media, “The decision of JioStar to seek retendering of its International Cricket Council media rights deal marks a brutal reality check. The 3 billion USD price tag might have made strategic sense on paper at the time of bidding, but with advertising down and subscription revenues stagnant, the economics simply do not add up any more.”
Prasar Bharati watches closely — and prepares to act
In the immediate aftermath of JioStar’s withdrawal, BestMediaInfo.com reported exclusively that public broadcaster Prasar Bharati is now evaluating a potential bid. A senior Ministry of Information and Broadcasting (MIB) official confirmed the intent, while speaking to BestMediaInfo.com, “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 also noted that Prasar Bharati is still in the early stages of assessing the opportunity: “It is still too early to comment on this, as it has only been two days since the development, and we are waiting for further details. That said, cricket remains a highly sought-after property for every broadcaster. We are also trying to understand whether a single bidder is interested in the rights or whether there will be multiple contenders.”
With Doordarshan’s legacy network, DD Freedish, and its growing OTT presence, Prasar Bharati is exploring a targeted strategy. “With Doordarshan, DD Freedish, and our OTT platforms, we have both the interest and a defined budget. Even if acquiring the entire rights package is not feasible, we will definitely consider bidding for one or two tournaments that fall within our reach, especially those with strong national appeal, such as India matches or major international fixtures,” the official added.
The challenges of public bidding in a private market
But for a public broadcaster entering a billion-dollar arena, financial viability is just one of many questions. The MIB official acknowledged, “Another important aspect in this conversation is the revenue-share dynamic. If the ICC fragments the deal, private players will certainly participate aggressively. The question is how viable it becomes for a public broadcaster. For us, profit is not the sole objective; we have several public-service goals to fulfil. Profitability is a consideration, but not the only one.”
Regulatory frameworks also present a hurdle. Under the Sports Broadcasting Signals (Mandatory Sharing with Prasar Bharati) Act of 2007, any sporting event of national importance broadcast live by private networks must be shared with Doordarshan, which in turn receives 25% of advertising revenues. However, this only applies to linear TV broadcasts, not digital streaming—a growing piece of the rights pie.
“Currently, the Act covers only linear broadcast rights, not digital rights. We are examining what is possible within the digital space, but as of now, little progress has been made. Any change to the Act would first need to be addressed legally. Until then, it is difficult to comment further,” the official noted.
A history of shifting power and regulation
The legacy of Doordarshan’s role in sports broadcasting has always been shaped by shifting power dynamics. Recalling the economic transition that led to the Sports Act, an industry veteran told BestMediaInfo.com, “With the advent of auctions, transparency improved, but Doordarshan could no longer compete financially. To address this gap, the government introduced the Sports Act, 2007, which ensured Doordarshan not only got the feed free of cost but also earned a 25% share of advertising revenue.”
But that arrangement wasn’t without consequence. The same veteran warned that “such interventions may have long-term consequences. Sports bodies may hesitate to bring tournaments to India if they fear being forced into unfavourable arrangements.”
Will streaming giants step in?
As per Exchange4Media, the ICC has already initiated exploratory conversations with Sony Pictures Networks India (SPNI), Netflix, and Amazon Prime Video. But industry observers caution that interest may be lukewarm.
A combination of timing and economics is driving caution. “The timing of the withdrawal proposal is also linked to the fact that the next major ICC tournament takes place early next year. The months preceding the T20 World Cup are generally not heavy monetisation windows. As a result, the broadcaster faces a prolonged period of low advertising inflow before any potential revenue spike. This has contributed to the decision to explore a retendering of the rights,” an expert told Exchange4Media.
Complicating matters further is the payment structure in ICC contracts. Rights fees are typically paid in installments, and JioStar has reportedly paid for only half the contract so far. “JioStar is believed to have paid for roughly two years of the contract, leaving a significant portion unpaid. Any attempt to exit midway will therefore be subject to a penalty clause, which can be substantial,” a broadcast veteran explained.
Given the operational challenges, one senior industry figure told Exchange4Media, “It would be extremely difficult to find a new broadcaster and complete all operational formalities before February, by which point preparations for the World Cup will be in advanced stages. The most likely scenario is that the ICC may renegotiate the deal with JioStar. This could involve price recalibration, a restructuring of payments, or a modified content distribution arrangement.”
An uncertain road ahead
For now, the ICC stands at a crossroads. The original four-year deal signed with Disney Star was supposed to carry through until 2027. But after the merger that created JioStar, its viability came under question. And while JioStar has bounced back financially—with its latest annual report showing a modest standalone profit of ₹18 crore (approx. US$2M)—its provisions for onerous sports contracts have ballooned to ₹25,760 crore (approx. US$ 2.9B), more than double the previous year’s figure.
Whether the ICC reopens bidding, renegotiates terms with JioStar, or taps a global streamer to redefine the distribution model, the next few weeks will be critical. At stake is not just a broadcast deal, but the shape of how Indian cricket reaches its audiences in an era where platforms, payments, and public interest are all in flux.
