The merger of Viacom18’s media and JioCinema businesses with Star India has officially created JioStar, a new media powerhouse valued at Rs 70,352 crore (~US$ 8.5 billion). Approved by the NCLT Mumbai, Competition Commission, and other regulatory bodies, the joint venture is controlled by Reliance Industries (RIL), which owns 16.34%, Viacom18 holds 46.82%, and Disney has 36.84%. RIL invested Rs 11,500 crore (~US$ 1.4 billion) into the JV.
JioStar combines leading TV brands like ‘Star’ and ‘Colors’ with digital platforms JioCinema and Hotstar. The JV operates over 100 TV channels, producing more than 30,000 hours of content annually, and has a digital subscription base exceeding 50 million. It also holds key sports broadcasting rights in cricket, football, and other sports.
With a projected combined revenue of Rs 26,000 crore (~US$ 3.1 billion) for FY 2024, JioStar is set to become one of India’s largest media & entertainment companies. The leadership team is headed by Nita M Ambani as Chairperson, Uday Shankar as Vice Chairperson, and three CEOs overseeing entertainment, digital, and sports operations.
This JV is expected to reshape India’s entertainment landscape by combining content expertise, digital streaming, and a user-focused approach, offering unmatched content to viewers in India and globally.