This might be a good news for all Amazon prime members! Seek out why?

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Prime Videos, a streaming app of Amazon’s online video service, is in negotiations with Sony Pictures Networks India to jointly bid for broadcast rights to the Indian Premier League (IPL) over the next five years.

In December, BCCI is expected to hold auctions for the first time, and the two organizations are expected to put up warchests of $3-4 billion, according to sources familiar with the negotiations. The Sony rights were held from 2008-2017, but Star India won the bid with a bid of *16,348 crore for all IPL games in 2018-22. Sony offered ₹11,050 crore.

Experts suggest that Star India has a strong presence on linear TV as well as online via Hotstar. On the other hand, Sony Pictures has a good linear TV network but struggles in the online segment. An analyst said a partnership with Amazon Prime could be successful in this area. In addition to merging with Zee Entertainment, Sony is seeking to expand its market presence in tier-2 and tier-3 markets. Likewise, Amazon has also tried to get the digital rights for the IPL, but has not been successful.

Prime Video has been looking to get into this space for a long time now and Sony wants to win the rights back. It looks like both may join hands for the same,” said another source.

While Sony did not respond to BusinessLine’s query, an Amazon spokesperson said it does “not comment on speculations.”

According to reports, BCCI expects at least $5 billion from broadcasting rights.

 

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