Disney Hotstar Sets Concurrent Viewership Record
Despite reports late last month that Disney was nearing a deal to sell its India streaming operations to Mukesh Ambani’s Reliance Industries Ltd., a deal has yet to materialize.
The sticking point may be the final valuation of Disney’s assets, as Disney reportedly values the business at around $10 billion, while Reliance sees that business as worth between $7 and $8 billion.
Photo:amplitude.com
A Record Audience For Hotstar
The delay may end up being something of a blessing in disguise for Disney. 59 million concurrent viewers tuned in to watch the World Cup final on Hotstar.
That number shattered the 53 million milestone that was set earlier this week. Previously, the record for Hotstar concurrent viewers came in October when the streamer hit 35 million.
Photo: Forbes
Since the Disney-Reliance negotiations began, Hotstar has now shattered its record for concurrent viewers twice in the last forty days.
Interstingly, Hotstar now clearly leads Ambani’s Viacom18 JioCinema, which peaked at 32 million earlier this year.
Photo: BBC
The Future of Disney in India Remains Unclear
The milestone for Hotstar comes at a time when Disney is fast-losing subscribers in India and questioning its future. Hotstar has lost more than 23 subscribers in the past year. In order to curb the tide, the company is currently streaming the ICC World Cup cricket matches at no cost to mobile viewers.
Following reports that a sale was in the works, Disney CEO Bob Iger stated that the company “would like to stay” in India, and was considering its prospects.
Scott Mlyn | CNBC
While Disney has struggled to keep subscribers onboard, the ICC Cricket World Cup gives Hotstar a unique opportunity to reach customers.
Disney projects that advertisers can reach over 50 million concurrent viewers in the tournament and reach 82% of the total annual video users in India during the tournament.
Photo: Hindustan Times
While a sale of Hotstar remains likely, for now, at least Disney can be bolstered by their strong viewership numbers.
Feature Image: The Indian Express
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