Disney's Star Group invested Rs 123 crore in JioStar India, total FDI this fiscal now Rs 3,847 crore. The Reliance joint venture deepens despite equity losses.
Walt Disney's Star Group injected Rs 123 crore into JioStar India through foreign direct investment, deepening its commitment to the joint venture with Reliance Industries. The capital infusion brings Disney's total investment in the venture to Rs 3,847 crore this fiscal year.
Disney reported equity losses from the JioStar joint venture in its most recent quarterly filing. The company continues to fund the partnership, indicating a long-term bet on India's growing media market where digital streaming and traditional broadcasting overlap.
The JioStar venture combines Reliance's Jio digital platform and distribution network with Disney's Star India television and streaming assets. The joint venture holds rights to major sporting events, including Indian Premier League cricket, and operates a portfolio of regional-language television channels across genres.
The investment comes as India's information and broadcasting sector logs a strong quarter for FDI inflows. Global media companies see India as a key growth market, with rising smartphone penetration and cheap data plans fueling streaming adoption. Disney's deepening commitment puts pressure on competitors such as Sony's India unit and Netflix, which also compete for sports rights and subscriber wallet share.
Reliance has been consolidating its media assets, folding Viacom18 into the partnership with Disney. The JioStar venture gives Reliance access to Disney's global content library and production capabilities. For Sony and Netflix, the combined entity creates a competitor with significant scale in both linear television and digital.
Disney's capital commitment to the venture is also reflected in its stock page, where the company's mixed Alpha Score of 47/100 captures the tension between India growth and near-term drag from the joint venture.
The Rs 123 crore injection adds to a growing wave of FDI in India's broadcasting sector this quarter. The sector's inflow rose sharply compared with the previous period, though government data did not break out JioStar's contribution separately.
Disney has not disclosed a specific timeline for the JioStar venture to generate positive equity returns. The joint venture's performance depends on advertising revenue and subscription growth across television and streaming.
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