JioStar Seeks Exit from $3-Billion ICC Media Rights Deal Ahead of T20 World Cup 2026

Ahead of the ICC Men’s T20 World Cup 2026, JioStar has informed the International Cricket Council (ICC) of its intention to exit its three-year media rights agreement citing mounting financial losses, according to a report by The Economic Times. The Reliance Industries–controlled broadcaster has reportedly told the ICC that it is unable to continue with the remaining two years of the $3-billion contract, which runs until 2027, prompting the global cricket body to explore alternative broadcast partners.As per the report, ICC has already initiated discussions with other major platforms, including Sony Sports, Netflix and Amazon Prime, to potentially step in should JioStar formally withdraw. ICC has also launched a fresh tendering process for the 2026–2029 rights cycle, estimated at approximately Rs 2.4 billion.

exchange4media (e4m) has reached out to JioStar for official comment and will update the story once a response is received.Financial disclosures offer insight into the broadcaster’s decision. According to Reliance Industries’ latest annual report, the Reliance–Disney joint venture has sharply increased provisions for onerous long-term sports contracts to Rs 25,760 crore in FY 2024–25, more than doubling the Rs 12,319 crore provision made in the previous year. The company acknowledged that revenues from extended sports rights agreements may not be sufficient to offset their costs.

Despite setting aside this substantial buffer, JioStar reported a modest standalone profit of Rs 218 crore in FY 2024–25, staging a cautious recovery from the steep Rs 12,548 crore loss recorded in FY 2023–24. Revenues from advertising, subscriptions and syndication edged up slightly to Rs 21,044 crore from Rs 20,097 crore, while operating expenses remained elevated at Rs 17,826 crore.The annual filing also highlighted JioStar’s market clout, noting an estimated 34% share of television entertainment viewership and more than 85% share in sports viewership across platforms.

The current development follows earlier efforts by Star India to renegotiate the ICC deal even before its merger with Reliance. In August 2024, Star requested a review of the $3-billion rights agreement for the 2024–27 cycle, reportedly citing lower-than-expected Indian viewership during the ICC Men’s T20 World Cup hosted in the USA and West Indies. Matches scheduled at inconvenient time slots were seen as a major factor impacting audience numbers.With ICC actively exploring new broadcast partnerships and fresh rights auctions underway, the next few months are expected to be pivotal for the future of cricket broadcasting in India.