The broadcast venture of India's Reliance has struck a deal with Warner Bros Discovery Inc. for its streaming platform JioCinema, making a big push to bring Hollywood content onto the platform and compete against Netflix and Amazon.
"It's a deep exclusive arrangement which will make JioCinema the house of Warner, HBO in India," the source said.
Viacom18 won the IPL digital streaming rights from 2023 to 2027 for around $2.9 billion, rights which Disney previously held. Viacom18's shareholders include Reliance, Paramount Global The source told Reuters that Warner so far had various arrangements with Indian streaming giants, but the Viacom-Warner deal will see consolidation of that library and will include HBO, Max and Warner content, among others.
"These marquee deals from IPL to HBO are great for not only user acquisition but also for stickiness and mind share," said Neil Shah, research director at Counterpoint Research.
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