trust industriesowned and operated by India’s richest man Mukesh Ambani, recently revived Campa Cola to take over the brand Coke And PepsiCo. It has now set out to take action against global streaming giants with its subsidiary Jio cinema.
What happened: The conglomerate of billionaires plans to expand its streaming service to include over 100 movies and TV shows to align Jio Cinema with major international companies such as Walt Disney Co‘S DIS Disney+ Hotstar and Netflix Inc NFLX in the rapidly developing Indian market.
The move aims to increase the popularity of the platform, especially with his successful cricket broadcasts. Jyoti DeshpandePresident of Media and Content Business of Jio Cinema, told Bloomberg that the platform will launch new titles before the end of the year Indian Premier League next month.
Jio Cinema will start charging for content as it expands, she added. Until then, viewers can continue to watch cricket matches for free. The exact price details are still being discussed.
See also: Reliance is looking for local partners, while Campa Cola is taking on Coca-Cola and Pepsi
Ambani aims to establish Reliance as a dominant player in the global media and online streaming industry. In 2020, its joint venture with Paramount Global, Viacom18 Media Pvt., won the digital rights to the Indian Premier League, one of the most watched sporting events in the world.
surpassed trust Disney And Sony Group Corp SONY To acquire the rights to IPL – a crucial step for any media company to attract viewers in India.
During the IPL opening weekend in April, JioCinema received over 1.47 billion video views. Last Wednesday, the platform had 22 million viewers for a single game.
Why it matters: India’s price-sensitive market remains elusive for global streaming giants. Though Netflix lowered its fees to attract viewers, Deshpande said both price and content are also at the forefront of Jio Cinema’s expansion.
Last year, Viacom18 Media secured a deal…
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