Mukesh Ambani will command OTT, will Jio Cinema buy Disney's business? - Newztezz Online


Tuesday, September 19, 2023

Mukesh Ambani will command OTT, will Jio Cinema buy Disney's business?

Mukesh Ambani's Reliance Industries may soon become a big power in the OTT segment in the country. In the coming days, Jio Cinema can give tough competition to Netflix and Prime Video. Anyway, Jio Cinema has caused a big loss to Disney Hotstar by taking the streaming rights of IPL.

A few years ago, Mukesh Ambani had made a big announcement in the Annual General Meeting of Reliance Industries. Then he had said that in the coming days, the OTT network will be such that with the release of the film, people will be able to watch it at home also. Many big sports events of the world can be enjoyed sitting at home. Now it seems that his words seem to be true, because Reliance Industries' OTT platform is in full preparation and can buy the India streaming business of a big company like Disney.

This year, when Jio Cinema acquired the rights of streaming of IPL and allowed the common people to watch it for free, it became clear that Jio Cinema is preparing to make something big. Then bringing many shows of Voot on Jio Cinema is also a part of this strategy. Now the news is that Disney itself is in talks to sell its India streaming business, in which Reliance Industries is also a party.

Disney wants to sell India business

Disney first bought the business of Star Group, due to which it also acquired the rights of streaming sites like 'Disney + Hotstar'. But first Disney lost a big partner like HBO. Then the streaming rights of IPL matches went away. This caused a dent in the business of 'Disney+Hotstar'. Perhaps after a few days he will get relief from the streaming of Cricket World Cup matches. Nevertheless, the company is also focusing on the strategy of selling its Indian streaming business.

Will Disney's business be sold?

Sources associated with Disney say that the company was in continuous talks with many companies to sell its Indian streaming business. Apart from Reliance Industries, other potential buyers are also included in this. If this deal had happened, then the opposite company would have got the rights of many sports events and also the rights of regional content, but now its possibility seems less. Disney has decided to hold on to its digital assets for a little longer.

Subscribers of 'Disney + Hotstar' are decreasing

However, after the loss of IPL rights, the number of subscribers of 'Disney + Hotstar' is continuously decreasing. Whereas on the contrary, the number of subscribers of Jio Cinema is continuously increasing. Jio Cinema currently has 3.2 crore subscribers. However, Disney Star still has the TV rights of IPL till 2027.

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