Disney-JIO Merger in 70,352 Crore compete with Sony, Zee Entertainment, Amazon Prime Videos.
- Reliance Industries and Walt Disney have announced the merger of their India TV and streaming media assets, forming a joint venture (JV) to deliver shows and sports content to audiences in India and globally.
- Nita Ambani will lead the $8.5 billion entertainment conglomerate, serving as the chair of the combined entity, with former top Disney executive Uday Shankar as vice chair.
- The JV aims to become a prominent TV and digital streaming platform for entertainment and sports content in India, amalgamating renowned media assets from both realms.
- Notable entertainment assets such as Colors, StarPlus, and StarGOLD, alongside sports channels like Star Sports and Sports18, will be consolidated under the merged entity.
- Reliance Jio users will gain access to Disney’s exclusive content, as the merged entity will offer a wide array of content through platforms like JioCinema and Disney+Hotstar.
- With a total of 120 TV channels and two streaming platforms, the combined entity will cater to over 750 million viewers in India and serve the Indian diaspora worldwide.
- The JV will enter competition with Sony, Zee Entertainment, Amazon Prime Videos, and Netflix in India, where the media and entertainment sector is valued at $28 billion.
- According to the statement, the JV aims to spearhead the digital revolution in India’s media and entertainment industry, providing consumers with high-quality, comprehensive content accessible anytime, anywhere.
- By merging Viacom18 and Star India’s diverse content libraries, the companies will be able to offer a wide range of entertainment content and live sports streaming services, domestically and globally, at affordable rates.
- With Disney’s films and shows integrated into Viacom18’s sports offerings, the JV will deliver a digitally-focused entertainment experience to audiences in India and the Indian diaspora worldwide.
- The venture will possess exclusive rights to distribute Disney films and productions in India, boasting a license to over 30,000 Disney content assets.
