#61 IPL cricket rights sold for $6.2 billion
Digital bids over take TV
Welcome to another edition of Business News for Kids 🙇♂️.
Busy business this week 💼
Cricket’s 🏏 top league, the Indian Premier League, sold its Digital & TV broadcast rights for INR 48,390.32 crores i.e. $6.2 billion dollars for a the 2022-2027 5-year cycle. A nearly 3x jump 😱 from the previous cycle price of Rs.16,347.5 crores ~$2bn. Another significant fact - Digital rights at Rs. 23,758 crore sold for more than TV rights at Rs.23,575 crore - signalling a huge shift in viewership and commercial potential of mobile viewing.
These numbers though are easily overshadowed by the biggest sports leagues like the NFL 🏈 that netted $39.6 billion or $6 bn per YEAR 🥴, and the NBA ⛹️ ⛹️♀️⛹️♂️ at $24 billion or about $2.6 bn / year. Checkout other top leagues.
While the IPL bucks stagnation trends, others remain deep in it. Crypto currency＄exchange Coinbase that’s seen share price drop from IPO highs of $340+ to a mere $51.22 is reducing its workforce by 18% or over 1100 people. 😔
And the Central Banks continue cranking up the fight against inflation by increasing interest rates steeply 📈⬆️🚀. AGAIN. The US Fed increased rated by 0.75% highest ever increase in 30 years while the Bank of England increased interest rate to 1.25%. Discuss with a big person how increasing interest rates helps control inflation. AGAIN. 😆
Move over IPL, NFL and Central Banks.. a Dogecoin investor is suing Elon Musk, Tesla, and SpaceX for $258 billion 🤯🤯🤯. Given the steep drops in the crypto currency’s value they are accusing Musk & team of operating an illegal racket to inflate prices artificially.
Wait, what is..
Broadcast Rights: Typically associated with sports leagues, movies and anything that has value to be shown to a large audience; Broadcast Rights grant specific people or companies the right to broadcast these events in a defined geography using the internet or Television. Rights are typically bought by television channels, internet companies, theatre owners etc.
Central Banks, Suing & more Wait, What Glossary.
Woah 😱 Weird 🥴?
Oh so woah 😱. We love space news and Mashable’s been kind enough to log the top Outer Space news in this nicely done article. Check it out. 👇
Inspiring business people to know 🙏
Meet the BCCI, our inspiring business entity of this week.
In break away from highlighting an individual, we’re thinking it might be a good idea to include inspiring companies and corporate bodies. So here is our first inspiring business entity - the Board of Control for Cricket in India. Formed in 1928, it is today the highest revenue earning cricket body in the world. See the top 10 list here. Read about its fascinating history here.
Knowledge is at the heart of being. To be more, we must know more.
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Stocks, stonks and.. ⚡️
After online retailer Amazon’s split its stock in a 20 for 1 deal, car maker Tesla, announced a 1:3 stock split that will make its stock trade around $200+ range instead of the $700+ range. This is the second split within a year. Discuss with a big person, why do companies split stocks? AGAIN. 😅
Mental models.. whaaaat! 🤯
My dad insisted we put this section in here, even though I protested saying its going to be a while before kids need to apply mental models. Mental models are nothing but ways of thinking, you can use as a framework, to take decisions or solve problems. Who knows, they might just be useful!
Remember the Law of Diminishing Marginal Utility? Well say hello to the Law of Diminishing Marginal Returns. Essentially what it says in that in a manufacturing process, after an optimal capacity is reached, adding additional productivity boosters will not result in significant increase in output. So say you hire 2 developers to make some software. These two might be very productive at making it. You add another 2 and now your software is getting developed 2x faster. Then you add 2 more but you see that your software is now only getting developed 0.5% faster than the previous rate. Effectively adding the 5th and 6th developer did not create the same increase in output as adding the 3rd and 4th. Maybe this was a rule all startups should have thought of.. and hired fewer people than hiring too many and then reducing staff numbers 🤷.
Geek out here and watch the video.
Tech, products, toys ++ 🤖
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Take care. See you next week. Pray for Ukraine and for Russian citizens. 🙏