Walt Disney plans to launch a 24-hour Hindi pay channel in India soon. This TV channel is expected to showcase the Disney portfolio of products and programming in their full glory. In Asia, India will be the third market to be tapped by the Disney group, the other two being Hong Kong and Japan.
The channel is being set up through a 100 per cent fully owned subsidiary in India. The channel will be set up with and investment of around $30 million. Even as no fresh investment is being made in the media and the broadcasting sector at this point, Disney is viewing India as a lucrative market.
The Disney proposal, which is in the process of being cleared by the Indian government, envisages setting up a studio for animation products, a theme park and a publication business related to Disney, besides the TV channel.
The channel is being launched individually and not on any other broadcasting platform. Disney is also eyeing the radio and movie business. The annual turnover of the group is around $25.4 billion. It has presence in 40 countries around the world.