Reliance to buy Hotstar as after losing the IPL streaming rights the OTT giant has approached Reliance to buy a stake in the company.
Highlight
- Disney Hotstar has approached Reliance Industries to buy its stake.
- Afterward, the TV business sale market heated up with the news.
- After losing IPL streaming rights the VOD company approached Viacom 18 owner reliance.
- Hotstar is suffering a great downfall in subscribers because of the same.
- There is no official statement by the company side for the same though.
Reliance To Buy Hotstar After Losing IPL Streaming Rights
Hotstar which was later renamed as Disney Hotstar has had the right to IPL streaming in India for the last six years but the 2023 IPL season was telecasted on Jiocinema which is owned by Reliance Industries. The right has been taken by Jiocinema and because of this Hotstar suffered a huge loss in subscribers and revenue.
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Star Sports and Disney Hotstar are the two competitors in terms of streaming cricket but after the Reliance Industry took over the streaming rights they both are facing great trouble in terms of traffic and the downfall of subscribers.
Mukesh Ambani Companies And Net Worth
Mukesh Ambani companies have seen great uprisings in terms of market capital and profits. There are seven prominent companies that are owned by Mukesh Ambani on a dominating basis in terms of share percentage.
- Reliance Industries Limited
- Just Dial Limited
- Hathway cable and Datacom
- Den Networks Limited
- Reliance Industrial Infrastructure Limited
- Hathway Bhawani Cabletel & Datacom Ltd.
- Jio Financial Services Limited
Mukesh Ambani’s net worth in Indian Rupees is approximately 6.8 lakh crores in Indian rupees which is close to 84 billion dollars. He is the richest person in India and has left Gautam Adani, Shiv Nagar, and Lakshmi Mittal behind who were much more far than Ambani during the time.
Disney Reliance Meet-Up Increases The Heat In The TV Business
Jiocinema’s coming back into the ott competing market has left everyone in complete awe and its collaboration with the Warner brothers is also one such major point to tickle. After Jio Cinema captured just the streaming rights of IPL Hotstar is suffering through a huge loss annually.
To manage the same the video streaming service has approached Reliance Industries to buy a stake and form a merger with Viacom 18. Hotstar IPL rights continued for 6 years but in 2023 it has been given to Viacom 18 which is owned by Reliance.
FAQ (Frequently Ask Question)
1. Hotstar Is Owned By?
The digital streaming platform Hotstar is owned by Novi Digital Entertainment Private Limited. It is a subsidiary company of Star India. Disney Hotstar has’s great impact in India but lately, it has started losing subscribers.
2. Hotstar Owner Net worth?
Hotstar came in 2015 and was available in 8 languages basically focused on subscription plans in the year 2016. Later HBO got its commencement with Hotstar and it became Disney Hotstar, therefore Game of Thrones and the other shows that were aired on HBO became available on Hotstar as well gaining it a lot of revenue and subscribers. In 2023 Hotstar owner’s net worth is projected 57.3 Million dollars. As per the news coming in Reliance to buy Hotstar is expectedly possible as the video streaming company has approached for the same.
3. Who is Mukesh Ambani’s son?
Mukesh Ambani has three children and two sons Anant Ambani is engaged to Radhika Merchant and Akash Ambani is married to Shloka Mehta. He has a daughter named Isha Ambani who is married to Anand Piramal.
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