World Cup Cricket on Hotstar Hits Historic 59M Viewers in India, Outperforming JioCinema While Disney Navigates Market Shifts
Portfolio Pulse from Anusuya Lahiri
Hotstar set a new viewership record in India with 59 million concurrent viewers for the World Cup cricket match, surpassing JioCinema's peak of 32 million. Despite this, Walt Disney Co (NYSE:DIS), which owns Hotstar, has lost over 23 million subscribers in India over the past year. Disney is considering various options for its future in India and has held talks with Reliance and other firms. The market shift has led Disney to focus on core businesses, facing competition from Ambani's Viacom18, which is investing heavily in IPL streaming. Disney maintains high expectations for the ICC Cricket World Cup viewership.
November 20, 2023 | 2:23 pm
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NEUTRAL IMPACT
Disney's Hotstar sets a viewership record in India, but the company faces a decline in digital subscribers and is reassessing its strategy in the Indian market amid competition.
While the viewership record is positive, the loss of subscribers and strategic reassessment indicate uncertainty. The impact on the stock is likely neutral short term as the news contains both positive and negative elements.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Fox Corp's portfolio, which was acquired by Disney, includes key assets in India, where Disney is facing a strategic shift and competition from Viacom18.
Fox Corp is indirectly affected through its acquisition by Disney, which is facing challenges in India. The negative impact on Disney could have a residual negative effect on Fox's valuation.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50