The ICC is staring at a major broadcasting crisis ahead of the 2026 T20 World Cup, and the timing couldn’t be worse. According to multiple reports, JioHotstar has officially told the ICC it cannot continue with Indian cricket media rights for the remaining two years of its contract. After heavy financial losses, the platform has decided to exit early, leaving the ICC scrambling for a new broadcaster.
ICC looks to sell rights again, but interest is low
As per the Economic Times, the ICC has already drawn up plans to float new tenders for the 2026–29 media rights cycle, with a hefty price tag of around $2.4 billion. For comparison, the ongoing 2024-27 cycle was valued at roughly $3 billion, with one major ICC event scheduled every year. But here’s the catch, No major player seems excited about bidding.
The ICC has reached out to Sony Pictures Networks India, Netflix, and Amazon Prime Video. All three were contacted over email. All three have reportedly chosen silence. Not exactly the response the ICC was hoping for.
With none of the platforms showing serious interest, mainly due to the steep valuation, the ICC suddenly finds itself with no clear plan.
India holds 80% of ICC’s revenue power
This whole situation highlights just how heavily the ICC depends on India. Nearly 80 percent of its revenue comes from the Indian market. That dominance is both a blessing and a curse.
Sony, despite being a giant in sports broadcasting, already has its plate full with deals involving Asian Cricket Council (worth $170 million), New Zealand Cricket ($100 million) and England and Wales Cricket Board ($200 million).
Even then, budget pressure is so intense that Sony handed over digital rights for the India-England Test series to JioHotstar this year, just to reduce financial risk. That alone says a lot about the current climate.
The bigger problem, A revenue hole no one can fill
A large part of this mess traces back to the ban on fantasy gaming platforms in India. Companies like Dream11 and MyCircle11 used to pump massive amounts of money into sports advertising. With them gone, broadcasters are staring at a huge Rs 7000 crore revenue gap. Star still has major brands to rely on, but nowhere near enough to make up that shortfall.
On the other hand Netflix has stayed away from Indian sports altogether, sticking to premium entertainment content and Amazon Prime Video, despite dabbling in cricket in the past, isn’t showing enthusiasm either. So, when the ICC says it needs a new broadcaster quickly, that’s easier said than done.
A race against time
With a global tournament coming up, the ICC needs to find a broadcaster fast. But with the market tightening, advertisers vanishing, platforms cutting costs, and broadcasters already stretched, it’s becoming clear that the board is facing one of its toughest media-rights battles ever. For now, the ICC can only wait for the next bidder to blink first.
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