This story was originally published on the portal Benzinga India.
Disney+ Hotstar, a leading streaming platform in India, has lost nearly 8.4 million subscribers in the past six months, according to data from CNBC-TV18. Walt Disney Co. DIS reported a 2% decline in total Disney+ subscribers, with membership falling to 157.8 million from 161.8 million.
What happened? Disney+ Hotstar in India saw its membership decline 8% in the quarter ended April 1, losing 4.6 million members and reducing its total subscriber base to 52.9 million. This is the second straight quarter of subscriber losses, coinciding with the loss of the platform Rights to broadcast the IPL and HBO content.
In June last year Mukesh Ambani‘S Reliance IndustriesViacom18 secured the IPL broadcast rights, leading analysts to estimate a potential loss of 15 to 25 million subscribers for Disney+ Hotstar. The platform also ended its partnership with HBO, removing popular series like Succession, Game of Thrones, and Westworld.
Why it matters: Reliance Industries’ JioCinema saw significant growth, reached over 500 million viewers and nearly equaled YouTube’s monthly viewership. During the first weekend of the T20 league, JioCinema was downloaded over 50 million times. JioCinema signed a deal with HBO for its content and released original content in local languages.
In addition, Jio Studios unveiled a lineup of 100 new movies and TV shows, including web originals and miniseries. As JioCinema grows in popularity and the OTT space becomes more competitive, Disney+ Hotstar may continue to see its subscriber base decline.
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