Mumbai: At Reliance Industries’ AGM chairman Mukesh Ambani said that the partnership with Disney marks the beginning of a new era in India’s entertainment industry. “We are combining content creation with digital streaming.
“Our digital-first approach will deliver unparalleled content at affordable prices. We will cater to every consumer’s tastes. We will provide world-class digital entertainment across the spectrum. We are excited about this partnership. I warmly welcome Disney to the Reliance family.
“Just like Jio and Retail, our expanded Media business will be an invaluable growth centre in the Reliance ecosystem.”
He shed light on the progress made by the Media and Entertainment business. “It is transforming India’s media landscape.
“Our Media business achieved over Rs, 10,000 crore ($1.2 billion) of revenue. This represents an industry-leading growthof 49%.
“Viacom18, our entertainment arm, did even better. Driven by the Sports segment, it saw a remarkable growth of 62%.
“JioCinema is revolutionising digital Sports and Entertainment. In a shorttime, it has reached majormilestones. The second seasonof IPL on JioCinema was a huge success. It reached 62 crore Indians. That is a 38% increase over the previous season. Total viewership grew by 50%. This made it the most-watched livestream event in the world. This success continued during the Olympics.
“JioCinema’s new subscription pack is a game-changer. It offers OTT originals, reality shows, blockbuster movies, and top content from HBO, Paramount, and NBCU. In just 100 days, JioCinema crossed 15 millionpaying subscribers. This is the fastestgrowth in this category.
“Colors, our flagship Hindi channel, reached its highest market share in 12 years. It climbed to the Number 1 position last year.”
