Cricket Australia sealed a record Aus$1.5 billion (US$1.02 billion) extension of its domestic TV rights deal Tuesday, calling it an important commercial outcome for the sport.

Under the agreement, its current partnership with the pay-tv Foxtel Group and free-to-air Seven West Media will continue for a further seven years.

It gives the media groups rights to broadcast home Tests, one-day and Twenty20 internationals, and the domestic Big Bash League, which will be reduced from its current schedule of 61 matches to 43.

The new deal starts in mid-2024 when the current six-year agreement runs out, and represents a Aus$19 million per year increase which Cricket Australia said would drive investments at all levels of the game.

"We are delighted to be continuing our broadcast partnership with the Foxtel Group and Seven under an improved deal," said Cricket Australia chief Nick Hockley.

"This is an important commercial outcome for all of Australian cricket and one that will ensure we can continue to deliver important community programs, support volunteers and increase participation to keep cricket strong."