India, May 17 -- Punjab Kings co-owner Mohit Burman believes the recent winning bids for two IPL franchises worth billions of dollars will have a positive impact on the next media rights cycle, and an increase of 20-30 per cent will not surprise him.

The existing media rights cycle from 2023-2027 fetched an eye-popping Rs 48000 crore (roughly $6.2 billion as per the exchange rate back then).

While the number for television rights could go down, the digital rights value is expected to go up drastically. Rajasthan Royals and Royal Challengers Bengaluru recently attracted successful bids from new investors for close to $2 billion each ($1.65 billion and $1.78 billion, respectively), and Burman said that is bound to drive up the media right...