The pay-TV industry is experiencing a resurgence in subscriber growth, driven by popular sporting events like the IPL and ICC Champions Trophy. After facing challenges from free DTH services and streaming platforms, the sector added an estimated 1.3 million subscribers. JioStar CEO Kevin Vaz notes strong content consumption on linear TV, with distribution platforms actively onboarding subscribers.
The IPL, since its inception in 2008, has defied expectations to become the world's top cricket league, valued at $12-16bn, with 600mn viewers in 2024. Teams profit from central media, sponsorship rights, and gate revenues. Despite risks, the league offers substantial growth potential, creating over 1.2mn jobs and uplifting numerous players.
Reliance Jio will charge users to stream IPL cricket matches starting at 299 rupees, ending two years of free streaming. The live event, set to occur from March 22 to May 25, will now be available on the new JioHotstar platform. Subscribers will also get a 50-day trial of Jio's broadband internet services.
The fantasy sports industry is banking on the ICC Champions Trophy and the IPL to drive user growth despite the 28% GST impact. Dream11 and My11Circle are making significant marketing investments and finalizing sponsorships, aiming to increase their user base and brand engagement through strategic partnerships.
The IPL's brand value has reached $12 billion. Four franchises, CSK, MI, RCB, and KKR, have brand values over $100 million. The league generates many jobs and influences global cricket leagues. The combined brand value of top teams is still lower than major football leagues. The IPL remains a powerful force in the sports industry.
The European Commission approved a joint venture between Reliance Industries, Walt Disney, and BTS Investment. This will create India's largest media conglomerate, valued at $8.5 billion. The merger will include over 100 TV channels and two streaming platforms. Reliance will hold a controlling stake, and the merger is expected to be finalized in early November.
The addition of 200,000 subscribers in the June quarter is a relief for India’s four private DTH operators who lost 3.28 million active subscribers in the last fiscal year.
The information and broadcasting sector in India saw a 31% decline in foreign direct investment during the first quarter of this financial year, attracting ₹3,374 crore. Major investments included Walt Disney's ₹2,839 crore in Star India and Uday Shankar and James Murdoch's ₹4,306 crore into Viacom18.
The Indian Premier League (IPL) franchises more than doubled their revenues for the year ended March 2024, thanks to increased share from the league’s central revenue pool during IPL 2023. The collective earnings of the 10 teams surged, with significant profitability improvements driven by a new media rights deal and sponsorship agreements.
Reliance Industries plans to merge Disney+ Hotstar with JioCinema after their Star-Viacom18 merger. This consolidation aims to save costs and enhance JioCinema's content offerings, making it a leading OTT platform in India. The merger is pending approvals from CCI and NCLT.
United Spirits (USL) saw a significant boost in net profit in 2023-24, with about 16% attributed to its cricket team, Royal Challengers Bangalore (RCB), whose revenue more than doubled. RCB's revenue surged to Rs 650 crore, with a net profit of Rs 222 crore, largely due to increased central rights income from the BCCI. USL, the largest liquor maker in India, reported sales of Rs 25,724 crore, with a net profit of Rs 1,312 crore.
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