Active Stocks
Tue Apr 16 2024 15:59:30
  1. Tata Steel share price
  2. 160.05 -0.53%
  1. Infosys share price
  2. 1,414.75 -3.65%
  1. NTPC share price
  2. 359.40 -0.54%
  1. State Bank Of India share price
  2. 751.90 -0.65%
  1. HDFC Bank share price
  2. 1,509.40 0.97%
Business News/ Companies / News/  Reliance-Disney OTT platforms viewership jumps; merger may hurt Netflix, Amazon Prime Video
BackBack

Reliance-Disney OTT platforms viewership jumps; merger may hurt Netflix, Amazon Prime Video

The merger of Reliance and Disney's platforms in India led to a dominant media giant with significant market share. Streaming cricket content has been crucial to their success, potentially hurting competitors like Netflix and Amazon Prime Video in the region.

Reliance platforms garnered a huge spike in viewership between March and May 2023 because of IPL coverage (REUTERS)Premium
Reliance platforms garnered a huge spike in viewership between March and May 2023 because of IPL coverage (REUTERS)

Nearly half of India’s internet users watched movies, television shows, news and sports on streaming platforms owned by Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. and Walt Disney Co. before they merged to form a media giant, according to Virgina-based data analytics firm Comscore. 

Last month, Reliance agreed to acquire Disney’s India business, creating an $8.5 billion media giant ranging from film and television production to news and sports content. 

Mint Explainer: All you need to know about the $8.5-bn Disney-Reliance merger

In January, nearly 243.5 million users — a 46.5% market share — visited three streaming platforms, Disney’s Hotstar and Reliance’s JioCinema and JioTV. Hotstar garnered over 114 million unique visitors for the month, while JioCinema and JioTV received more than 129 million visitors during the period, according to Comscore data. 

How Reliance-Disney merger will change cricket streaming in India

Streaming cricket has been essential to the success of Hotstar and JioCinema and JioTV. The Reliance platforms garnered a huge spike in viewership between March and May 2023 thanks to its coverage of the Indian Premier League, Comscore date shows. Hotstar received 191 million visitors last November, driven in large part by offering the Men’s Cricket World Cup.

RIL, Disney merge assets to create 70,352 crore media giant; 5 key highlights

The merger is expected to hurt competitors Netflix Inc. and Amazon.com Inc’s Prime Video miniTV, as well as local platforms such as Times Internet’s MXPlayer and Zee Entertainment Ltd’s ZEE5.

Sony formally withdraws $10 billion merger agreement with Zee from NCLT

The merged company will command the lion’s share of India’s advertising market, affecting traditional broadcasters, Karan Taurani, senior vice president, Elara Securities India Pvt, said in a research note last week.

The consolidation “could have a negative impact on other linear TV broadcasters, such as Sun TV, Z Sony, and others, as they may not be scale up on market share," Taurani wrote.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 05 Mar 2024, 12:31 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App