Recent media reports suggesting that JioStar was looking to exit its media rights agreement with the International Cricket Council (ICC) have been refuted by both organizations in a joint statement released today. The statement clarifies that the existing contract remains fully in force and JioStar remains the ICC's official media rights partner in India.
The joint statement addresses speculation about JioStar's commitment to the four-year deal, which runs through 2027 and is valued at $3 billion. Recent reports had indicated that JioStar was seeking to withdraw from the agreement due to financial losses. These reports also stated that the ICC had initiated a new bidding process for India's media rights for the 2026-2029 cycle and approached Sony Pictures Networks India (SPNI), Netflix, and Amazon Prime Video as potential replacements.
The ICC and JioStar have moved to quell any uncertainty, affirming their commitment to providing seamless and high-quality coverage of all upcoming ICC tournaments. This includes the highly anticipated ICC Men's T20 World Cup. They emphasized that preparations for forthcoming global events are progressing as planned, with no disruption expected for viewers, advertisers, or industry stakeholders.
According to the joint statement, JioStar is "fully committed to honouring its contractual obligations in letter and spirit". Both entities emphasized that their long-standing partnership continues to involve regular engagement on operational, commercial, and strategic fronts, all centered on expanding the sport's reach and impact.
The recent rumors of JioStar's exit emerged amid reports of financial strain due to a ban on real-money gaming, which impacted advertising revenues, and declining revenues from TV and streaming. JioStar's provisions for expected losses on sports contracts reportedly doubled in the 2024-2025 fiscal year. Despite these challenges, JioStar holds a significant share of India's television entertainment market and dominates sports viewership.
JioStar acquired the media rights in India from the ICC for the 2024-2027 cycle for USD 3 billion. The company's JioHotstar platform reported a staggering 185 million users for the Women's Cricket World Cup 2025 Final, equaling the viewership of the ICC Men's T20 World Cup 2024 Final.
With this joint statement, the ICC and JioStar aim to reassure fans, advertisers, and other stakeholders of their continued partnership and commitment to delivering uninterrupted cricketing coverage to millions across India.
