IPL Media Rights: Amazon retires from the battle of high-risk IPL media rights bids

US tech giant Amazon It will not bid for the rights to the telecast of Indian Premier League cricket, which is expected to be worth more than Rs 50,000 crore ($ 6.4 billion), a source familiar with the company’s plans said Friday.

The decision comes just two days before the contest for the television and digital broadcast rights of the hugely popular Indian Premier League, a two-month tournament that usually takes place every April and May.

Amazon had decided not to participate in the tender as the company did not find it a viable option for growth in India, the source said, who requested anonymity as she was not allowed to speak to the media on the matter.

A representative of the Amazon Prime Video online streaming platform did not immediately respond to requests for comment.

The withdrawal leaves the field open to rivals like

which will make an offer through its broadcasting joint venture Viacom 18, Disney Also Hotstar and the Indian unit of Sony Corp when the offerings take place on Sundays.

Star India owned by Disney, which is a major TV broadcaster in the country, along with Sony and its planned acquisition

paid 163.48 billion rupees ($ 2.1 billion) for the rights through 2022.

IPL bidding rights are seen as the key to growth in India’s booming online streaming market.

It is to them that analysts attribute Disney’s huge advantage over rivals in the cricket-mad subcontinent, attracting over 50 million paid subscribers to its platform, Disney Plus Hotstar.

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