JioStar has reportedly informed the International Cricket Council that it may be unable to continue with the remaining two years of its $3 billion India media rights agreement. The ICC has now begun scouting new buyers for the 2026–29 cycle, amid weakening broadcaster interest and a correction in global sports rights valuations.
The JioStar media rights deal with the International Cricket Council (ICC) faces uncertainty after the broadcaster reportedly indicated financial distress. The $3 billion, four-year India rights contract—valid through 2027 and covering premier tournaments such as the T20 World Cup 2026—has allegedly resulted in steep losses for the platform, according to a Trak.in report (Source: Trak.in).
ICC Relaunches Bidding for 2026–29 Cycle
After receiving JioStar’s communication, the ICC has initiated a fresh bidding process for India media rights for the 2026–29 cycle, with a reported asking price near $2.4 billion.
The ICC has approached:
• Sony Pictures Networks India (SPNI)
• Netflix
• Amazon Prime Video
However, industry sources cited in the Trak.in report note limited enthusiasm due to high valuations and weak profitability projections.
Why India Remains ICC’s Largest Revenue Driver
India contributes nearly 80% of ICC’s global revenue, making its media rights the most valuable in world cricket. Yet broadcaster caution is increasing. Earlier this year, SPNI sub-licensed digital rights for the India–England bilateral series to JioStar, signalling early strain in India’s sports broadcasting economics.
What Went Wrong for JioStar
The JioStar media rights deal reportedly became financially unsustainable due to a major advertising shortfall triggered by:
• The nationwide ban on real-money gaming platforms
• Estimated loss of ~$840 million in ad revenue
• Decline in spending from fantasy gaming platforms such as Dream11 and My11Circle
Traditional advertisers have returned, but cannot match earlier high-margin gaming spends.
Meanwhile:
• Netflix continues to avoid Indian cricket, prioritising global sports entertainment like WWE.
• Amazon’s cricket exposure remains limited, with its New Zealand Cricket deal nearing expiration.
Global Sports Rights Face Price Correction
Internationally, rights inflation across leagues—NBA, NFL, MLB—has forced streamers to be selective. Even FIFA and the International Olympic Committee reportedly face challenges achieving target valuations in India.
Despite volatility, cricket remains India’s strongest mass-audience property. JioStar remains contractually obligated until 2027, but the search for new partners indicates a broader correction in the valuation of sports media rights.
The uncertainty surrounding the JioStar media rights deal marks a pivotal moment for India’s sports broadcasting market. With the ICC reopening bids and major platforms hesitating, the sector may be entering a more cautious, profitability-driven phase. Future deals will likely be shaped by sustainable revenue models rather than aggressive bidding.
