Dominance in the Media Industry: Reliance-Disney Partnership to Claim 85% of Streaming Market and Half of TV Viewership

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Cricket match streaming has been the prime driver of new users for streaming platforms in India. By securing numerous cricket rights, Disney and Reliance have left rival services with limited content options to attract fans. “The 2023-27 IPL broadcasting now sit under the JV – Viacom 18 has digital streaming rights (won for US$2.9bn) while Star has TV broadcasting rights for US$2.8bn. Combined with about 8% of the TV market that Viacom18 assumes in India, the merged operations — which will feature some 120 TV channels — will command about 49% of the broadcasting market. In a statement Wednesday, Disney and Reliance said they will reach 750 million users in India with the merged entity.

“Groundbreaking Partnership: Reliance and Disney Join Forces in India Media, Creating $8.5 Billion Joint Venture”

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Reliance, its portfolio Viacom18 and Disney are merging their media businesses in India, creating the largest media entity in the South Asian market. Reliance will control and own 16.34% of the joint venture, which it has valued at $8.5 billion. Reliance, which is India’s most valuable firm, said it sees an opportunity to expand and streamline its presence in the Indian fast-growing market by merging its media assets with Disney India. Reliance, which owns more than 60% in Viacom18, plans to invest $1.4 billion into the joint venture for its growth strategy. The “strategic” merger of Reliance and Disney India also unites two leading Indian streamers, JioCinema and Disney+Hotstar.