JioStar signals exit from ICC media deal before 2026 T20 World Cup: Reports

MUMBAI: JioStar is preparing to walk away from its marquee International Cricket Council media rights agreement, according to a report by The Economic Times, the company has formally informed the cricket body of its intention to withdraw.

The Reliance backed joint venture with Disney had clinched global broadcast and digital rights worth nearly 3 billion dollars for the 2024 to 2027 cycle. Reports now indicate the deal has become too costly to sustain, prompting the ICC to quietly begin sounding out alternative broadcasters and streamers.

Industry whispers place Sony Sports, Netflix and Amazon Prime among the early names approached. JioStar has not released a public statement so far. Reports add that the ICC is awaiting an official response even as it activates its backup plan.

The shake up comes as the ICC kicks off a fresh rights evaluation for the 2026 to 2029 cycle, a package expected to be valued at around 2.4 billion rupees. A mid cycle exit of this scale could redraw the map of cricket broadcasting in India.

Strain had been building. JioStar’s latest filings show a sharp jump in provisions for loss making sports contracts from 12,319 crore rupees in FY24 to 25,760 crore rupees in FY25. Revenue from advertising, subscriptions and syndication rose modestly to 21,044 crore rupees but operating expenses of 17,826 crore rupees kept profits under pressure.

Despite this, the company still commands roughly 34 percent of India’s television entertainment market and more than 85 percent of sports viewership.

The trouble goes back further. Reports point out that Star India reached out to the ICC in August 2024 to revisit the terms of the original contract after the 2024 Men’s T20 World Cup delivered underwhelming Indian viewership due to unfavourable match timings in the United States and the Caribbean.

If confirmed, JioStar’s exit would mark one of the most dramatic shifts in India’s sports media landscape in years and could reshape how cricket is packaged, priced and consumed.