Reliance Industries Ltd. (RIL) and The Walt Disney Company have merged their media assets in India, forming an $8.5 billion entertainment powerhouse.
This joint venture (JV) will encompass over 100 TV channels across entertainment and sports, alongside two digital streaming platforms. The entity will hold exclusive rights to major sporting events like the Indian Premier League (IPL) and Disney’s film and television content in India.
Previously competitors, RIL and Disney will now collaborate through their JV, integrating TV networks such as Colors, StarPlus, Star Sports, and streaming services JioCinema and Disney+ Hotstar. Under the agreement, RIL will control the venture, holding 16.34%, Viacom18 will own 46.82%, and Disney will retain 36.84%.
RIL is investing ₹11,500 crore ($1.4 billion) to drive the JV’s growth. Nita Ambani will serve as Chairperson, while Uday Shankar, former Disney India chief, will be Vice Chairperson.
Disney’s valuation in India has declined to about $4 billion, partly due to subscriber losses at Disney+ Hotstar after losing IPL streaming rights. Viacom18 has been acquiring former Disney properties like IPL digital rights, HBO content, and India cricket matches.
With projected revenue of ₹25,000 crore and a dominant 40% market share in linear TV and streaming, the merger may face regulatory scrutiny. It also solidifies control over sports broadcasting, commanding 80-90% of cricket ad revenue.
Industry experts suggest this move heightens competition for platforms like Netflix and Amazon Prime, reshaping India’s media landscape.
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