Mukesh Ambani’s BIG Move: JioCinema to Shut Down Before IPL?
In a surprising twist, Mukesh Ambani, India's business tycoon and chairman of Reliance Industries, may be making a significant move that could see the popular OTT platform, JioCinema, shut down ahead of IPL 2024. With rumors swirling around the potential merger of JioCinema with Disney+ Hotstar, many are wondering what this means for the future of online streaming in India.
JioCinema’s Rise to Fame
JioCinema saw a meteoric rise in its user base, especially after Reliance Jio announced free streaming of IPL matches on the platform. Cricket fans and movie buffs flocked to the OTT platform, resulting in a massive surge in subscriptions. JioCinema quickly became a favorite among the youth for its IPL coverage, movies, and exclusive content. However, this golden era may be coming to an end sooner than anticipated.
The Disney Deal: A Game-Changer
The likely reason behind this shocking development? A major acquisition deal between Reliance Industries and Disney. According to reports, Reliance is nearing the completion of its acquisition of Disney’s Star India division. This deal will give Mukesh Ambani control over the Disney Star Network, including the highly popular Disney+ Hotstar.
The consolidation of platforms is a strategic move, likely to streamline operations. Once the deal is finalized, JioCinema could be merged with Disney+ Hotstar, leaving only one OTT giant standing in the Indian market. By merging the platforms, Reliance will avoid the cost and complexity of running two separate services.
Not the First Time for Reliance
This wouldn’t be the first time Reliance Industries has consolidated its OTT operations. Viacom 18’s platform, Voot, was previously merged into JioCinema to create a unified streaming platform under the Reliance banner. Now, JioCinema may face a similar fate.
Why Merge? The Numbers Speak
The potential merger between JioCinema and Disney+ Hotstar isn’t just a strategic business move; it’s driven by impressive numbers. Disney+ Hotstar has achieved over 50 million downloads from the Google Play Store, with a substantial 35.5 million paying subscribers. In comparison, JioCinema has seen 100 million downloads, thanks to its free content, but the integration with Disney+ Hotstar could give Reliance an edge in the OTT war.
Reference from:-https://www.india.com/business/jio-cinema-to-shut-down-mukesh-ambani-may-take-big-decision-soon-reason-could-be-ott-platform-ipl-matches-7335645/