Though in the recent Disney films, they are failing to pull off the motion of thrill, shifting from the reel to real, Disney is at the center of attention regarding their Indian wing.
Hotstar suffered a massive loss after the departure of major sports, including cricket and football, and that is reflected in the quarterly stats. After JioCinema acquired the majority of the content, it was prominent that Hotstar was suffering.
Though they were streaming the Cricket World Cup, it did have a hefty price tag, and streaming it for free possibly caused major losses.
Reliance’s Viacom18 unit is set to absorb Disney’s Star India through a share swap deal, with Mukesh Ambani’s Reliance paying cash for a 51% stake, while Disney retains 49%.
The proposed unit’s board is anticipated to have equal representation from both entities. The terms of the agreement are expected to be announced in January.
As expected, none of the parties commented on the situation, but it does seem like a profitable deal for JioCinema as they will be holding the most successful Indian OTT platform and will have a blueprint for success in front of them.
But, besides all these, this event comes out as a big shock as Disney CEO Bob Iger confirmed they are sticking to the Indian venture.
