Reliance Industries Limited (RIL), Viacom 18 Media Private Limited (Viacom18), and The Walt Disney Company have finalized a joint venture, merging Viacom18 and Star India Private Limited’s operations. This landmark agreement will create a media powerhouse with over 100 TV channels and two prominent OTT platforms, Disney+ Hotstar and JioCinema.
The merger, fueled by RIL’s INR 11,500 crore investment, aims to disrupt India’s OTT landscape by offering a diverse range of content to cater to all viewer segments. With exclusive rights to distribute Disney content in India, the joint venture is positioned to challenge global streaming giants like Netflix and Amazon Prime Video.
Furthermore, the partnership’s emphasis on live sports broadcasting, particularly cricket through platforms like IPL and FIFA World Cup, is set to dominate the Indian sports market, accounting for a significant share of advertising revenue. This consolidation of TV and digital rights under a single entity is expected to result in lower losses in the OTT sector and increased efficiency in content distribution.
However, the merger may face scrutiny from the Competition Commission of India (CCI) due to potential antitrust concerns, possibly requiring divestment of certain TV channels. Despite regulatory hurdles, the RIL-Disney merger is poised to reshape India’s $1.5 billion OTT industry, triggering a wave of consolidation among smaller players.
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