Facebook is spending a lot to stream sports content and it nearly spent $610 million to acquire the rights to stream five years of cricket matches from The Indian Premiere League (IPL). 21st Century Fox’s $2.5 billion bid was far more substantial than Facebook’s, so it received the exclusive streaming rights.
The bid from Facebook was the second highest received by IPL. Despite not winning the rights, its willingness to spend more than half a billion dollars on cricket matches shows how dedicated the social network is to sports streaming.
