Disney’s Hotstar recently achieved a remarkable milestone in the world of global on-demand video streaming. A highly-anticipated cricket match between arch-rivals India and Pakistan captivated audiences across India and beyond, offering a much-needed boost to Disney’s Hotstar platform. The streaming service, which has been grappling with a significant loss of over 20 million subscribers in the past three quarters, witnessed a resurgence in popularity as it attracted an astounding 35 million concurrent viewers during the intense cricket showdown.
This achievement shattered the previous record of 32 million concurrent viewers, set by Viacom18’s JioCinema, backed by Asia’s richest man, Mukesh Ambani. It’s worth noting that this previous record, like several others in recent years, was also associated with streaming cricket matches, underlining the sport’s immense popularity in the region.
Disney made a strategic move by streaming the ICC World Cup cricket matches for free to mobile viewers in India as it sought to reclaim its dominance in the streaming market. Viacom18 had previously outbid Disney for the five-year streaming rights of the cricket tournament IPL, gaining significant traction and popularity in the process.
Head of Hotstar said
Sajith Sivanandan, Head of Disney+ Hotstar India, expressed gratitude to the millions of cricket fans who contributed to the platform’s success, stating, “Your love for the game is what made it possible for Disney+ Hotstar to break all the previous records across all cricket formats and hit a peak concurrency number of 3.5 crore viewers.”
While Disney celebrates this streaming triumph, it is simultaneously in the midst of discussions regarding the future of Star India, which controls Hotstar. As market conditions evolve, and Mukesh Ambani’s Viacom18 continues its aggressive expansion by recruiting former Star India executives, Disney is exploring potential buyers for its India business.
Preliminary talks have taken place with various parties, including the Indian conglomerate Reliance and private equity giants, as Disney gauges interest in its prized asset within Fox’s portfolio. Disney has high expectations for the ongoing ICC Cricket World Cup, projecting that it can attract over 50 million concurrent viewers and reach 82% of India’s total annual video users during the tournament. As the tournament unfolds, the fate of Disney’s India business will be finalized, with key executives planning to visit the company’s US headquarters for discussions immediately after the cricket World Cup concludes next month.
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