Disney's India Streaming Arm Is Bleeding Subscribers By Millions, The Culprit: Billionaire Mukesh Ambani's Jio

This story was first published on the Benzinga India portal.

The Walt Disney Company (NYSE: DIS) owned Disney+ Hotstar, once the crown jewel of India’s streaming world, is facing turbulent times. The platform saw a staggering drop of 12.5 million subscribers in the recent quarter, marking its third consecutive dip. The culprit? A cricket content void, especially the much-loved IPL.

The numbers: With 40.4 million subscribers by June’s end, the platform has lost around 21 million since October 2022. Amidst these challenges, whispers about Disney considering a sale or a potential joint venture in India are rife.

During an earnings call, Disney’s CEO, Bob Iger, hinted at a global re-evaluation. He emphasized that not all markets are on equal footing. While some might see reduced investments, others, with high potential, could witness a surge, especially in local content.

Rivals who stand to gain: The game-changer was when Disney lost the IPL digital rights bid to Viacom18, supported by the business magnate, Mukesh Ambani‘s Reliance Industries. Capitalizing on this, JioCinema streamed the IPL for free, making a grand entry into a domain Disney once ruled.

After the IPL, Jio also bagged HBO rights, taking popular titles such as Succession and Game of Thrones away from the House of Mouse in India.

Photo Courtesy Iljanaresvara Studio On Shutterstock.com

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