ICC Media Rights: The International Cricket Council (ICC) may face a big challenge ahead of the 2026 Men’s T20 World Cup in India. JioStar, operated under Reliance Industries, recently informed the ICC that it will not be able to serve the remaining two years of its four-year media rights deal. The company has cited financial losses as the reasons behind the move, leading cricket’s governing body to now start looking for vendors for new media rights.
This announcement by JioStar is a big blow for the ICC, because huge revenue is expected from the media rights of cricket in India. JioStar has taken this step while ICC has started the sale process of new media rights for 2026-29. According to reports, the ICC is asking for a price of $2.4 billion (about Rs 18,000 crore) for these rights this time, which is slightly lower than the 2024-27 cycle, but still a big challenge.
Increasing financial pressure in sports media
JioStar revealed in its audited standalone financials that it doubled its provision for huge losses related to sports contracts in 2024-25, reaching Rs 25,760 crore, compared to last year. Also, Star India reported a standalone net loss of Rs 12,548 crore for 2024, which was mainly due to its media rights deal with ICC. This loss clearly reflects the pressure on JioStar from high expenses on sports rights and lower revenue generation.
Concern about big broadcasters
Major broadcasters such as Sony Pictures Networks India (SPNI), Netflix, and Amazon Prime Video, who were approached by the ICC for new rights for 2026-29, have not initially shown interest in the proposal, primarily due to the price and rising expenses. Sony Pictures is also considering this amount as huge. The price of rights is high. At the same time, streaming platforms Netflix and Amazon Prime Video have so far shown limited interest in cricket in India. Netflix has stayed away from Indian cricket and focused on premium entertainment, while Prime Video’s involvement in cricket has been limited.
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Strategic challenge for ICC
Despite this crisis, the ICC has expressed hope that a solution can be found keeping in mind the strong viewership of cricket in India. However, the huge demand and rising prices of media rights in India has now become a big risk for any platform. Therefore, the ICC faces a tough road ahead regarding the sale of cricket rights in the future, especially as competition and financial pressures between media companies and streaming platforms increase.
Constant changes regarding new media rights
Despite reforms taking place in the media and sports sector, there remains pressure on the sale of cricket rights in India. The merger of Star India and Viacom18 with JioStar has created a virtual duopoly in Indian sports broadcasting, limiting options for rights holders like the ICC. Despite this, cricket’s huge audience in India makes it a strategic asset that no broadcaster or streamer is willing to give up.
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