Sci-tech

Company Places $600 Million Bid For Cricket Streaming Rights — Facebook Sports

Company Places $600 Million Bid For Cricket Streaming Rights — Facebook Sports”

"The biggest challenge for Star was to win the IPL rights and it was also the top focus for the network, now that the lucrative IPL rights are in the bag, the company wants to go all out for the India Cricket rights too as that would establish monopoly and ensure competitors (Sony) don't have any prime cricket property", a source in Star Sports was as quoted by Cricketnext.

Facebook has been in action throughout this year, trying to acquire the streaming rights to different leagues and games.

In pre-market trading today, Facebook shares were in the red. Check out our product announcement here: http://newsroom.fb.com/news/2016/01/facebook-sports-stadium With 650 million sports fans, Facebook is the world's largest stadium.

Facebook has been looking into more original content for its live video offering, including live sports. Dawson also feels that given the popularity of cricket in India and other countries, trying for the IPL streaming rights was the right thing to do.

The package Facebook bid for reportedly included the rights to the two-month long IPL, which is one of the most-watched sports leagues in the world.

However, what's more interesting about Facebook's bid is that despite the fact it failed, it signifies the most aggressive move by a social media company to edge out traditional television players. The site began introducing live-streamed sports events a year ago when it hosted video streams of a Manchester United-Everton match.

Cricket is the most popular sport in India, with a global audience of more than a billion people. In May, Facebook entered an agreement with America's Major Baseball League to live-stream 20 games this season.

Facebook is willing to pay lots of money for sports.

Facebook isn't the only social media platform to be moving aggressively in the live sports video space.

The IPL's deal covers 60 matches per season for five years, 300 in total, so the media rights deal values a single game at £6.57 million.

Facebook CEO, Mark Zuckerberg explores with sporty side with Dale Earnhardt Jr.

Facebook was also competing with Twitter and Snapchat parent Snap Inc to score the online rights to video highlights from Fox for next year's soccer World Cup, Bloomberg reported in July.

But at the same time, Facebook has yet to lock down streaming rights for a major sports event.



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