Details and controversies around the ICC Cricket World Cup 2023; And, could Twitter disrupt the video streaming space?

Market Watch

• Indian benchmark indices ended the day in green, with the Sensex up by 499.39 points at 63,915.42, and Nifty up 154.70 points at 18,972.10.
• Sectorally, Nifty Media (-0.67%) shed the most, while Pharma (1.46%) and Metal (1.36%) gained the most.

If you have to read just 4 things about today’s market developments, here’s what our markets editor recommends:

• Sensex and Nifty finally reached a new-all time high driven by inflows from FIIs and a narrowing current account deficit.
• GQG Partners and others invested approximately $1 billion in Adani Group companies despite ongoing investigations by SEBI and US regulators.
• LTIMindtree is expected to enter the Nifty 50 index after the delisting of HDFC.
• Prosus has reduced the value of its stake in Byju’s, cutting the ed-tech unicorn’s valuation down to $5.1 billion.

ICC Cricket World Cup 2023: All about the schedule, tickets, and political controversy

The International Cricket Council (ICC) has announced the schedule for the 2023 Cricket World Cup and released details about ticket pricing and booking.

The details: The tournament will begin on October 5 at Ahmedabad’s Narendra Modi Stadium, with a match between England and New Zealand.

• The Indian cricket team will start its campaign against Australia on October 8 in Chennai. The clash with Pakistan, one of the most anticipated in the tournament, is scheduled for October 15 in Ahmedabad.
• The final of the tournament will be held in Ahmedabad on November 19.

The big picture: A total of 10 teams will participate in the mega event, with eight teams already qualified through the Cricket World Cup Super League and two spots yet to be decided.

• Each team will play the other 9 teams in a round-robin format, with the top four qualifying for the semi-finals.

Booking tickets: Tickets for the ICC World Cup will soon be available online, and fans can pre-book their tickets from the official ICC Cricket World Cup website or its app.

• Tickets will also be available on BookMyShow, Paytm, and Paytm Insider, with most sales being online and limited offline sales.
• The price range for regular tickets will be between Rs 500 and Rs 10,000 per ticket, depending on the venue and the match.
• However, the ticket prices for special categories can vary significantly, ranging from Rs 17,000 to almost Rs 1.4 lakh.
• The most expensive tickets are reserved for highly anticipated matches like India vs Pakistan and the final, both priced at Rs 1,38,600.

Between the lines: The Board of Control for Cricket in India (BCCI) is facing criticism for displaying ‘favouritism’ in the selection of venues for the tournament.

• The exclusion of certain major venues, such as Indore’s Holkar Stadium and Mohali, has sparked disappointment and allegations of political interference.
• Other major cities such as Rajkot, Thiruvananthapuram, Hyderabad Ranchi, and Nagpur have also been overlooked as venues for the World Cup matches.
• Meanwhile, Ahmedabad’s Narendra Modi stadium will host the tournament's inaugural match, as well as the final.
• However, BCCI Vice President Rajeev Shukla has addressed netizens’ disappointment, explaining that the decision was not solely within their control and that obtaining consent from the ICC was necessary before finalising the selection of venues.

Meanwhile, hoteliers in Ahmedabad have already begun capitalizing on the issue, and hotel prices in the city have risen to as much as Rs 50,000 a night on match days.

Twitter takes on YouTube with Apple’s latest announcement

Giving a boost to Twitter’s video ambitions, Apple has uploaded the entire first episode of its sci-fi dystopian TV series ‘Silo’ on Twitter, allowing anyone to view it for free.

• The move comes as the streaming service is set to drop the show’s season finale this week.

Between the lines: The move is seen as a marketing strategy by Apple to generate excitement for the show and potentially attract new subscribers to Apple TV+.

• This practice is not a new concept, as networks have previously released pilot episodes on YouTube.
• However, Apple has decided to take advantage of Twitter’s recent introduction of extended video uploads for its subscribers to promote its show before its season finale.

The big picture: We’ve previously written about how Twitter is aiming to become the new-age news platform, but its potential for disrupting digital media extends into the video space as well, where it could disrupt YouTube’s dominance.

• This shift in Twitter’s strategy after its takeover by Elon Musk is apparent, as the company is highlighting video and creator partnerships.
• In addition to extended video uploads, Musk has also promised future features such as the ability to watch a video while scrolling through the app, 15-second forward and back seek buttons and a video app for smart TVs.

The other side: After Twitter began allowing paid subscribers to Twitter Blue to upload two-hour-long videos, users have begun uploading full copyrighted movies on the platform.

• This could spark piracy concerns from film businesses; major music publishers have already launched a $250 million lawsuit alleging that Twitter “permits and encourages” users to infringe on their copyright by uploading licenced music without permission.

ICYMI

• A Mumbai man’s decision to bring two goats into his apartment ahead of the Muslim festival of Bakrid sparked a row among the residents of his housing society.
• IIT Bombay emerged as the best higher educational institution in India on the latest QS World University Rankings 2024, breaking into the top 150 in the world rankings.
• Congress leader Rahul Gandhi is set to visit the violence-stricken state of Manipur on June 29.
• The Allahabad High Court has criticised the makers of the film ‘Adipurush’ for their portrayal of characters from the Hindu epic Ramayana, stating that they are testing the tolerance of Hindus.
• Canada has announced a new open work permit for H-1B visa holders in the United States and a series of immigration-centric initiatives under its first-ever Tech Talent Strategy.