American Company Walt Disney preparing to close business in India Soon.
As per the Bloomberg report, Disney is looking for a buyer who can purchase Disney OTT in India. This year IPL streamed on JIO Which caused a huge subscriber loss for Disney.
Mukesh Ambani owner of Reliance Industries entered the OTT Industries with the help of JIO Cinema.
At Jio Cienma some most popular series you watch such as ASUR 2 and more for free of cost without having any subscription plan.
This strategy is very similar to when JIO launched in India within 2 years most of the competitors in the telecom sector became bankrupt and Ran out of business.
Disney is in touch with SUN TV and Adani Group for the deal of Disney+ Hotstar.
If Adani Group buys this platform successfully then Ambani and Adani In such a scenario, the OTT war is going to put Ambani and Adani against one another.
As per the report of Business Today Disney+ Hotstar lost its 12.5 Million Subscribers base in the last quarter.
It is Officially Announced?
Adani’s media sector will grow as a result of this agreement. Disney is considering a number of options for the sale of its Indian operations.
Disney hasn’t yet released an answer to this report, though. The spokesperson for Adani Vibration also declined to comment. It is interesting that Disney experienced significant losses as a result of losing the IPL streaming rights. Jio provided free viewing of the game.
Which Disney found to be pretty difficult. It must now offer free streaming of the Cricket World Cup being played in India, just like Jio. Actually, the business made this choice to win back its previous clients.