JioStar takes the stage: Industry on how the media powerhouse is rewriting the playbook

The new entity will also make it easier for advertisers, who will now not have to speak to multiple people, and there will also be more options for them for contextual associations, says the industry.

The merger of Reliance Industries Ltd-owned Viacom18 with Disney India into the newly formed ‘JioStar’ marks a seismic shift in India's media landscape, creating a massive entity with unparalleled resources and market share.

The high-profile joint venture, creating a media giant valued at approximately Rs 70,352 crore (US$8.5 billion) combines JioCinema, Star India, Colors, and Hotstar, positioning it to dominate both traditional TV and digital distribution channels. With over 50 million digital subscribers and a reach spanning more than 100 TV channels, industry observers hail the JV as a "game changer" that will reshape the media and entertainment sector in India.

Speaking to exchange4media, Gopa Menon, Chief Growth Officer for APAC, Successive Digital, said, this consolidation creates a media powerhouse that can potentially dominate both traditional and digital distribution channels.

“The rise of JioStar marks a significant turning point in the Indian media landscape. Its emphasis on digital platforms, combined with its vast resources, vast content library and reach, is likely to accelerate the growth of the digital & the media sector, this coming together will also intensify competition, and reshape the way Indians consume entertainment,” he said.

Industry experts point out, while the consolidation brings much-needed scale, it also raises concerns about monopolistic control, the emergence of a duopoly, and the potential impact on advertisers, viewers, and competitors alike.

Sandeep Goyal, Chairman, Rediffusion, expressed his view calling the Jio-Star merger as a “game changer for Indian media” but hopes it does not lead to “monopolistic tendencies”.

“It is the creation of a monolith organisation with deep pockets and humungous resources. Hopefully its size will not lead to monopolistic tendencies. Jio-Star will effectively control all sports. Which is both good and bad. Also, the entity will dominate digital entertainment. Which is a growing business especially with the advent of 5G.

“GEC, once the core business of Star, is at the crossroads. That will be a challenge that will need serious addressing. Competition to Jio-Star has self-imploded. So, there will be minimal pressure on the new entity from other networks. All in all, early days but interesting days,” he said.

Ajay Verma, Managing Partner at 0101.today, said, "Reliance and Viacom18's merger with Disney India will have 30+% TV viewership share. In the digital space, they will become second only to YouTube (with JioCinema + Voot + Disney) with 300+ million users.” r it.”

“This deal brings in the much-needed scale but this move will also create a duopoly market which will have its own pitfalls,” Verma said.

Sharing a similar view, Rahul Vengalil, Co-founder and CEO, TGTHR, observed that TV is also going the digital way with a duopoly.

"As a consumer, personally I am looking forward to the merger. The better technology of Hotstar can help Jio improve on the customer experience in consumption of content on the digital side. This will also help with the range and depth of content options for the consumers across all mediums,” he said.

For advertisers, Vengalil said that JioStar would become one of the largest platforms for Digital and Offline combined.

"⁠Advertisers will not have to speak to multiple people, and better deals can be bought by the agencies and advertisers. There will also be more options for advertisers to do contextual associations,” he said.

According to Anita Nayyar, former COO, Branding and Communication at Patanjali Ayurveda Ltd, the market efficiencies will be driven by them and the media agencies and brands will need to relook at their strategies to reach their audience.

“The most talked about merger is finally here and Jiostar is now a reality for the media world. The same has the highest market share and to a large extent in a monopolist position. Such mergers always change the market landscape. Indian media market consolidation gives the new entity a huge edge in all genres of entertainment  —linear as well as digital —national and regional along with Sports.

“The market efficiencies will be driven by them and the media agencies and brands will need to relook at their strategies to reach their audience. Other competitive networks will need to come up with compelling propositions else the loyal viewer of their channels will become an appointment viewer basis content interest and affinity,” Nayyar said.

As per Vishal Chinchankar, CEO, Madison Media Alpha & Madison Digital, “Emergence of Jiostar will rattle the media landscape. I anticipate seeing this merger breaking the digital duopoly & leading the linear pack, by building inventory at scale with the rich entertainment & sports content that it controls.”

Karan Taurani, Senior VP, Elara Capital said that JioStar is set to dominate India’s media landscape, as its extensive content catalogue will make it a go-to platform for both urban and regional viewers.

“With control over 70-80% of the country’s major sports properties and a vast global content library—including HBO and Disney films—it will become the go-to platform for both urban and regional viewers.

“This extensive content catalogue will drive significant ad revenue growth, positioning JioStar to rival YouTube India. Additionally, its direct distribution model allows for higher subscription revenue and greater control over pricing, giving it an edge over competitors. With Disney’s proven track record in user experience and JioCinema’s growing originals, JioStar is poised to offer superior platforms, creating a powerful market presence that could impact fringe broadcasters and even global OTT giants,” he said.

On November 14, Reliance Industries Limited (RIL), Viacom18 Media and The Walt Disney Company finalised a joint venture (JV) that marks a major turning point in India's media and entertainment industry.

Approved by the NCLT Mumbai, the Competition Commission of India and other global regulatory bodies, this JV merges Viacom18’s and JioCinema's media assets with Star India, creating a media conglomerate valued at approximately Rs 70,352 crore (US$8.5 billion). RIL has also invested Rs 11,500 crore (US$1.4 billion) in the JV to fuel its growth.

The JV, controlled by RIL with a 56% stake, includes contributions from Disney (36.84%) and Viacom18 (46.82%), forming one of the largest media entities in India.

This newly formed powerhouse combines some of the country's most popular entertainment brands, uniting the strengths of Star, Colors, JioCinema and Hotstar under one roof. It will operate over 100 TV channels, produce more than 30,000 hours of content annually, and boast a combined digital subscriber base of over 50 million.