Mukesh Ambani's JioCinema Shakes Up Streaming, Takes Disney Head On: Report
Portfolio Pulse from Benzinga Newsbot
Mukesh Ambani's streaming platform, JioCinema, has become a significant competitor to Walt Disney Co. (NYSE:DIS) in India's rapidly expanding streaming market. JioCinema attracted over 400 million viewers to its streams of the Indian Premier League (IPL) cricket tournament in April and May 2023. The platform has acquired rights to shows and films from global networks like NBC, HBO, and Warner Bros. JioCinema's rise began when it outbid Disney Star for the digital rights to stream the IPL until 2028.
July 03, 2023 | 6:22 am
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Walt Disney Co. faces increased competition in India's streaming market from JioCinema, which has gained significant viewership and acquired rights to popular content.
JioCinema's rapid rise and aggressive strategy, including outbidding Disney for the digital rights to stream the IPL, pose a significant threat to Disney's market share in India's streaming market. This could potentially impact Disney's stock price negatively in the short term.
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