The Pakistan Super League (PSL), Pakistan’s top-tier cricket competition, has seen a strong increase in the value of its media rights from the results of the tenders for the upcoming rights cycle.
Pakistini cricket governing body the Pakistan Cricket Board (PCB) said the domestic live streaming rights for the 2024 and 2025 editions of the competition saw a 113% increase in value compared to the 2022-23 cycle, with marketing platform Walee Technologies securing the rights.
ARY Communications, meanwhile, was the highest bidder in the public tender to be the domestic TV broadcaster for the 2024-25 cycle, with the PCB stating that the broadcast rights saw a 45% increase in value from the previous rights cycle.
ARY reportedly paid PR6.3 billion, ($22.5 million), which is 3 billion more than what it paid for the same rights in the previous cycle, where it and and the Pakistan Television public service network shared the rights in a joint bid.
PCB management committee chair Zaka Ashraf stated: “It is an unprecedented moment as the prices for both of these rights are unmatched. This is a testament to the growth of the HBL PSL brand and we are all waiting for [PSL season 9] to begin now.”
The 2024 season of the PSL begins on February 17, and runs through to March 18, with HBL as its title sponsor.
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The 2024-25 cycle marks the second consecutive cycle of major value increases for the PSL’s rights, showcasing the surging interest in domestic cricket by broadcasters, especially given the young nature of the competition, which began in 2016.
Ahead of the 2022 season, the value of the domestic TV rights, which were picked up by Pakistan Television and ARY, was itself a 50% increase on the 2020-21 cycle.
Meanwhile, the streaming rights for the period, picked up by tech firm Dawaz, grew 175% on the previous cycle.
That figure, coupled with 113% growth in the following sale, also indicated the growth of sports streaming in the country and how highly sought after the rights are.