The video streaming business of Mukesh Ambani, Asia's richest person, is likely to focus on pricing and local content following a deal with Warner Bros as it seeks to challenge the likes of Disney and Netflix in India, industry sources said.
as well as Bodhi Tree, a joint venture between James Murdoch and former top Disney executive, Uday Shankar.
At stake is a slice of a video streaming market that is expected to grow annually by 22%-25% to reach $13-$15 billion by 2030, according to a 2021 report by Indian lobby group CII and the Boston Consulting Group. While Netflix and other rivals boast of content specially created for the India audience, JioCinema's current free offerings largely include old Hindi and local language movies. In sports, it has IPL cricket streaming rights until 2027 and in March bagged exclusive rights for MotoGP in India.
JioCinema is in talks with various production studios and has plans to introduce dozens of TV shows and movies on the platform in the coming months, in Hindi and other languages, a second industry source told Reuters on Friday.
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