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⁠Reliance and Disney: A Strategic Joint Venture for India's Entertainment

The Reliance-Disney joint venture signifies a new chapter for Indian entertainment, one filled with exciting possibilities for content creators, viewers, and the industry as a whole.

⁠Reliance and Disney: A Strategic Joint Venture for India's Entertainment

Friday March 01, 2024 , 3 min Read

In a landmark move for India's entertainment sector, Reliance Industries Limited, led by billionaire Mukesh Ambani, and the global media titan Walt Disney have unveiled a groundbreaking partnership. This strategic joint venture, valued at a staggering ₹70,352 crore, represents a major reshaping of the media landscape in India, merging Reliance's Viacom18 media operations with Disney's Star India in a court-approved process. The announcement has sent waves of excitement across the industry, signaling the dawn of a new era in content consumption and viewer experience in one of the world's most vibrant markets.

Here's a closer look at the details:

1. A Merging of Giants:

  • RIL, through its media arm Viacom18, will merge its media operations with Disney's Star India, creating a powerhouse entity.
  • Nita M. Ambani will chair the board, while former Disney executive Uday Shankar will serve as vice chairman.

2. Shared Ownership and Investment:

  • Reliance and its associates will hold a majority stake (63.16%) in the joint venture, with Disney owning the remaining 36.84%.
  • Reliance has committed to investing ₹11,500 crore to bolster the venture's OTT (Over-the-top) business, primarily benefiting Jio Cinema.

3. A Content Powerhouse:

  • The merger will create India's largest media conglomerate, boasting over 100 channels and two prominent OTT platforms: Jio Cinema and Hotstar.
  • This vast library combined with Disney's global content and Star India's sports broadcasting expertise promises an unparalleled viewing experience.

4. Reaching Millions:

  • With a combined viewership of over 750 million, the joint venture will deliver a diverse range of entertainment content and live sports streaming services.
  • This includes highly anticipated events accessible through both Jio Cinema and Hotstar.

5. A New Era for Indian Entertainment:

  • Both Mukesh Ambani and Bob Iger, CEO of Disney, see this venture as a catalyst for the Indian entertainment industry.
  • They anticipate delivering unparalleled content and digital services to cater to the evolving preferences of Indian audiences.

The deal holds significant historical context:

  • Disney acquired Star India in 2019, hoping to reach 100 million users through Hotstar. However, the paid subscription model and the loss of IPL rights to Reliance in 2022 impacted their subscriber base.
  • This partnership offers Disney a second chance to capture a larger share of the Indian market, leveraging Reliance's reach and expertise.

The strategic alliance between Reliance Industries and Walt Disney is more than just a business transaction. This partnership not only promises to reshape the content consumption landscape in India but also sets a global benchmark for strategic collaborations in the media and entertainment sector. With regulatory, shareholder, and customary approvals pending, the transaction is expected to close between the last quarter of 2024 and the first quarter of 2025.

Overall, the Reliance-Disney joint venture signifies a new chapter for Indian entertainment, one filled with exciting possibilities for content creators, viewers, and the industry as a whole.


Edited by Roshni Manghnani