ICC set to release ITT for USA, Australia, Canada, and West Indies in next 24 hours

After dealing with the Indian market, the International Cricket Council (ICC) has now focused on the United States, Australia, Canada, and the Caribbean. That is the next 24 hours, it will issue its next Invitation of Tender (ITT) for media rights in these regions.

Announcing the ITT launch, ICC said, “Following the successful completion of the Indian market media rights tender. ICC is beginning the next phase of its media sales process in target markets including the United States.” It recently sold the India rights to Star Sports for $3 billion. Which later split the assets in two and parted ways with the television rights and sub-licensed them to Zee. It has retained digital rights.

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Bids are being invited from the four identified markets

Again, bids are being invited from the four identified markets, mainly for eight world events, from 2024 to 31, for men, and four events, from 2024–27, for women’s championships. In the combined ITT, there will be 16 men’s events, including the Under-19 Championships and six women’s events.

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ICC has neither announced the base price nor the asking price

At this stage, ICC has neither announced the base price nor the asking price. Like Indian broadcasters, it may consider fixing the demand price if there is demand. However, unlike in India, these packages will be for combined TV and digital rights, with no standalone package being offered. Interested parties must submit bids for the first four years of men’s events. They also have the option of bidding for an eight-year association.

The first time that the ICC is approaching each market separately

This is the first time that the ICC is approaching each market separately. A clear conclusion from this strategy of isolation is that it will become transcendent to the cricketing world on the contribution of different regions/countries to the income of the ICC, especially compared to India.

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70 percent of rights earnings were generated from the Indian market

Last time, 70 percent of rights earnings were generated from the Indian market. After India, the United Kingdom contributes the most to ICC revenue followed by the United States, South Africa, Pakistan, and Australia. However, after being done with other parts of the world, the ICC will move to the Pakistan market in the middle of next year.

ICC has also allocated the joint hosting rights of a world event

In the United States, there has been a recent renewed interest in cricket. Keeping this trend in mind, the ICC has also allocated the joint hosting rights of a world event, the Twenty20 World Cup, to the US, which will be held in the country and the Caribbean in 2024. Currently, ICC events are broadcast on Willow. TV, Times Internet subsidiaries like Cricbuzz, and OTT platform ESPN+. Then there are media houses like NBC, CBS, Amazon, and Apple. NBC shows the Olympics there.

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The United States is one of the ICC’s target growth markets

“The United States is one of the ICC’s target growth markets. And with 30 million cricket fans already enjoying the game. That country is scheduled to co-host a World Cup in 2024 and the 2028 Olympic Games. We have an exciting ambition to join the ICC, said ICC Chief Executive Geoff Allardyce.

In the neighboring Caribbean, competitors can be Sports Max, Flow TV, and ESPN. In Canada, Willow Canada is the current rights holder. Earlier ICC events were held on Rogers and earlier on ATN.

Fox and Seven recently signed a $4.5 billion dollar deal for the AFL

Foxtel and Channel Nine share current ICC events below. Australia’s international rights are held by Foxtel and Channel Seven, who in 2018 jointly ended the hegemony of Channel Nine. These had enjoyed a monopoly in cricket for 40 years. For the record, both Fox and Seven recently signed a $4.5 billion dollar deal for the AFL, the country’s most popular sport. Seven also have Olympic rights. Its OTT platform 7Plus is very popular and does not have a paywall like Fox’s OTT app Kayo.

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Nine, Seven, and Fox, there is Network Ten, which used to show Big Bash

Besides Nine, Seven, and Fox, there is Network Ten, which used to show Big Bash. It has recently been acquired by CBS Paramount, an American firm. And may be one of the contenders for the rights, like Optus Sports, which recently acquired the rights to the English Premier League.

Australia is a unique market for the ICC and often not every World Cup game

Australia is a unique market for the ICC and often not every World Cup game, for example, those involving smaller teams, may not be available on TV there. Apart from being in Australia (in this cycle in 2028), with only 26 million people and ICC events going live nightly, the market dynamics are different. But things seem to be changing soon, especially with the rapidly growing South Asian population (about 750,000 Indians), mainly all cricket fans. But whether this will translate into higher media rights revenue for the ICC is anyone’s guess.

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