Disney+ Hotstar, the leading streaming platform in India, has lost millions of subscribers in recent months. The company blamed the decline on the loss of the Indian Premier League (IPL) cricket streaming rights to JioCinema, the streaming platform owned by Mukesh Ambani’s Reliance Industries.
In the quarter ending June 2023, Disney+ Hotstar lost 12.5 million subscribers, bringing its total subscriber base to 40.4 million. This is a significant decline from the 52.9 million subscribers it had in the quarter ending March 2023.
The loss of IPL streaming rights is a major blow to Disney+ Hotstar. The IPL is the most popular sporting event in India, and it is estimated that the streaming rights are worth billions of dollars. Losing the rights to JioCinema has deprived Disney+ Hotstar of a major source of revenue and has also caused a significant loss of subscribers.
In addition to the loss of IPL streaming rights, Disney+ Hotstar has also faced competition from other streaming platforms in India. Netflix, Amazon Prime Video, and Zee5 have all been growing their subscriber bases in recent months. This competition has made it more difficult for Disney+ Hotstar to retain its subscribers.
Disney+ Hotstar has taken steps to address the decline in its subscriber base. The company has launched a new ad-supported tier that is priced at Rs. 49 per month. This tier is aimed at attracting budget-conscious consumers. Disney+ Hotstar has also announced that it will be adding more local content to its platform in order to appeal to Indian audiences.
The rise of JioCinema has had a significant impact on Hotstar. JioCinema is a free streaming platform that offers a wide range of content, including movies, TV shows, and cricket matches. This makes it a very attractive option for consumers who are looking for a low-cost streaming option. Hotstar, on the other hand, is a paid streaming platform. This means that it is more expensive than JioCinema. In addition, Hotstar’s content library is not as extensive as JioCinema’s. As a result of these factors, JioCinema has been able to attract a large number of subscribers. In the quarter ending June 2023, JioCinema added 10 million subscribers. This growth has come at the expense of Hotstar, which has lost millions of subscribers in the same period. The impact of JioCinema on Hotstar is likely to continue in the coming months and years. JioCinema is a well-funded platform with a large user base. It is also constantly adding new content. This makes it a very attractive option for consumers who are looking for a low-cost streaming option.
