ZEEL, Disney Star sign strategic licensing agreement for TV rights of ICC mens events

1 Sep 2022 , 09:40 AM

The company entered into this agreement for the period of four years. Disney Star is the leading media & entertainment company in the country. The organizations entertainment portfolio, which generates more than 20,000 hours of original content every year, cuts across general entertainment, sports, films, infotainment, kids and lifestyle content. Disney Star will continue to be the exclusive home for streaming of all ICC tournaments through its digital platform – Disney+ Hotstar. International Cricket Council (ICC) has in-principle approved this arrangement, the firm said. This association enables ZEE to be the exclusive television rights holder of ICC mens events, including the coveted ICC Mens T20 World Cup (2024, 2026), ICC Mens Champions Trophy (2025), and the ICC Mens Cricket World Cup (2027) along with key ICC Under 19 (U-19) events, the company stated. Speaking about the strategic development, Punit Goenka, MD & CEO of ZEE Entertainment Enterprises, said, ?This is a first-of-its-kind partnership in the Indian media & entertainment landscape, and this association with Disney Star reflects our sharp, strategic vision for the sports business in India. As a one-stop television destination for ICC mens cricket events until 2027, ZEE will leverage the strength of its network to offer a compelling experience for its viewers and a great return on investment for its advertisers. Long-term profitability and value-generation continue to be our areas of focus across the business, and we will always evaluate all the necessary steps that will enable us to make sports a compelling value proposition for the Company. We look forward to working with ICC and Disney Star, to enable this strategic offering for our television viewers in India.? With the ICC digital rights secured for the next four years, Disney Star retains its position as the Home of Sports in India. Its current portfolio also includes the television rights for IPL (2023-27), television and digital rights for Cricket Australia (2023-2030), television and digital BCCI rights (2023) and television and digital rights for Cricket South Africa (end of 2023-2024). In addition to cricket, it also offers other major sports properties on its platforms including Pro Kabaddi League, Indian Super League, the Wimbledon Championship and the English Premier League, the company stated in the press release. Zee Entertainment Enterprises (ZEEL) is a media & entertainment company offering entertainment content to diverse audiences. It is present across broadcasting, movies, music, digital, live entertainment, and theatre businesses, both within India and overseas. The company reported 50.1% drop in consolidated net profit to Rs 106.6 crore despite a 4% increase in operating revenue to Rs 1845.7 crore in Q1 FY23 over Q1 FY22. Shares of Zee Entertainment Enterprises were down 1.77% to Rs 252.35 on the BSE. Powered by Capital Market – Live News