Amazon likely to withdraw from competition for IPL media rights: Report

According to a report by Bloomberg, Amazon is planning to withdraw from the competition for media rights for streaming the Indian Premier League (IPL) matches.

People familiar with the matter told Bloomberg that Amazon plans to throw out the towel instead of bagging the deal. The IPL media rights have been estimated to fetch $7.7 billion. “Amazon has invested approx $6 billion in the country and spending more just for media rights doesn’t make sense,” said the person familiar with the matter to Bloomberg.

Apart from Amazon, other competitors are Reliance, Sony Corp and Disney. If Amazon confirms its exit then the battlefield will be open for other competitors who want to dominate the growing Indian online market. IPL is a multiweek cricket tournament that has a cult-like status among the Indians. It is held in April-May of every year.