New Delhi: Reliance Industries Limited (RIL) is reportedly planning to have a single streaming platform after the Star India’s Disney+ Hotstar deal passes through all the regulatory tests. RIL is likely to focus on combining its content with JioCinema to create a single platform despite Disney+ Hotstar having a lot more users at present.
The Economic Times reported that RIL is considering to integrate Disney+ Hotstar with JioCinema post-merger. Walt Disney’s Star India, which owns Disney+ Hotstar, has more than 500 million downloads, whereas JioCinema, which is part of Viacom18, has over 100 million downloads.
RIL and Walt Disney sealed a deal to merge Star and Viacom18 in February 2024. The combined network will be worth $8.5 billion that would comprise more than 100 channels and two streaming platforms.
RIL is planning to have a single platform as it believes it would be less expensive. By merging them, RIL could compete with biggies like Netflix, YouTube, and Amazon Prime Video.
The Competition Commission of India (CCI) and the National Company Law Tribunal (NCLT) are yet to give their green signal to the merger. Reliance has agreed to shut down some TV channels in Hindi and regional markets as there is a concern that post merger, it would become too dominant in the market.
In February 2024, Reliance and Disney announced the strategic joint venture to bring together India’s biggest media brands.
The deal mentioned that the companies would merge respective digital streaming and television assets in India. Reliance to invest Rs 11,500 crore in the joint venture and Disney will provide Content License to the venture.
“The transaction values the JV at ₹70,352 crore (~US$ 8.5 billion) on a post-money basis, excluding synergies. Post completion of the above steps, the JV will be controlled by RIL and owned 16.34% by RIL, 46.82% by Viacom18 and 36.84% by Disney,” The Walt Disney Company had stated in its release.
Disney+ Hotstar content may merged into JioCinema after RIL-Disney deal to create India’s largest streaming service. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
