JioStar flags Rs 25,760 cr sports contract burden in annual report

JioStar India, the Reliance–Disney joint venture, has seen its provisions for onerous sports contracts leap to a staggering ₹25,760 crore in FY 2024–25 more than double the ₹12,319 crore set aside just a year earlier as per Reliance Industries' latest annual report. The jump is rooted in the company’s admission that revenue from these long-duration rights deals may fall short of covering their costs.

Even with this hefty financial buffer, the broadcaster clocked out a skinny standalone profit of ₹18 crore, marking a cautious rebound from the ₹12,548 crore loss reported in FY 2023–24. Advertising, subscriptions, and syndication helped revenues climb modestly to ₹21,044 crore from ₹20,097 crore, while operating costs remained steep at ₹17,826 crore.

The year also saw positives. The media and entertainment ambitions arm of the business took a definitive leap forward with the creation of JioStar, India’s largest media platform, through the merger of Viacom18 and Star India. As per the annual report, JioStar now commands an estimated 34% share in television entertainment and over 85% in sports viewership. According to the company, sports continues to be a critical catalyst for digital adoption, with IPL 2025 viewership touching a record 652 million and the Champions Trophy 2025 clocking 61.2 million concurrent viewers on JioHotstar.

The broadcaster's strength in regional entertainment remained evident with Star Plus capturing a 27% share in Hindi GECs, while Star Pravah, Star Jalsha, Star Vijay, and Star Maa led their respective language markets. Beyond GECs, JioHotstar not only dominated sports but also pushed the boundaries of live-streamed cultural events racking up 39 million views for Mahashivratri and 8.3 million views for Coldplay’s concert.

With 280 million subscribers during IPL Season 18 and 503 million peak monthly active users in March 2025, JioHotstar has emerged as a digital powerhouse.

Looking ahead, Reliance is betting big on connected TVs, micro-dramas, and AI-led personalisation to drive the next phase of growth. “With a surge in online video consumption and rapid CTV adoption, JioHotstar is set to lead the next wave of digital growth. Continued investments in entertainment, sports and news, along with innovation in content formats and AI‑driven personalisation, will strengthen RIL’s leadership,” the company noted in its annual report.

“The next leg of growth in RIL’s media and entertainment segment will be driven by innovative content formats and newer monetisation capabilities—by scaling advertising and subscriptions across platforms through a broader advertiser base, ad-tech innovation, and compelling subscription offerings,” the company added in its outlook.