India’s cricket broadcasting ecosystem is facing a major shake-up after reports that JioStar is looking to renegotiate its massive $3-billion media-rights deal with the International Cricket Council (ICC). The original agreement, signed for 2024 - 2027, gave JioStar the rights to both TV and digital streaming of ICC tournaments. But new reports suggest the company may not be able to meet its obligations for 2026 and 2027, triggering talks of a scaled-down contract.
According to the Financial Express, JioStar could revise the deal to around $2 - 2.1 billion, potentially spread over a new 2026–2029 cycle. While neither JioStar nor ICC has officially confirmed the situation, the signals point to serious financial challenges in India’s sports-rights market.
One of the biggest reasons behind this rethink is the sharp drop in advertising revenue. Over the past two years, both TV and digital platforms in India have struggled with weak ad demand. Brands are cutting budgets, and spending on sports events is no longer as aggressive as before. At the same time, OTT platforms in India face another structural issue, low ARPU (average revenue per user). Indian viewers are extremely price sensitive, and subscription incomes remain much lower than international markets.
This means broadcasters and streamers must carry high rights costs, but the income does not grow at the same pace. As a result, the earlier $3 billion valuation is now seen as difficult to recover, even for a large player like JioStar. Reports also mention that the company has booked huge provisions for losses linked to sports rights, suggesting financial stress in its media division.
Because of this uncertainty, the ICC has reportedly begun preparing for a fresh sale process for the 2026–2029 rights cycle. The board values the package at around $2.4 billion, lower than the previous cycle but still substantial. However, interest from other broadcasters and streaming platforms is currently described as weak. High pricing, slow ad markets, and low digital returns have all made companies extremely cautious.
For JioStar, renegotiating is an effort to limit losses and stabilise its broader business. For the ICC, the uncertainty is serious because India contributes the largest share of global cricket revenue. Any disruption could impact not only tournament coverage but also funding for cricket development worldwide.
For fans, the situation may lead to changes in where and how they watch ICC events. If rights shift to a new platform, subscription models may change, and viewing experience could differ. In a worst-case scenario, delays in finalising partners might even affect coverage of some early events in the new cycle.
Overall, this episode highlights how quickly the economics of sports broadcasting are changing. High costs, shifting viewer habits and digital pressures are reshaping the market, and the next ICC cycle may look very different from the one before it.