Know the meaning of the website JioStar.com
With the launch of JioStar.com as their official website, Reliance Industries and The Walt Disney Company declared today that their media merger in India was complete.
Instead of being a streaming platform as was previously rumored, JioStar.com, the company’s new digital destination, exhibits the merger’s phrase “forging a new path to inspire a billion imaginations” and is now the company’s homepage.
Following the resolution of domain issues, there is speculation that the joint venture between Reliance Jio and Disney may eventually use JioHotstar for their unified streaming platform.
The siblings Jainam and Jivika, who live in Dubai, presently hold the JioHotstar.com name. They bought it from a developer in Delhi who first asked Reliance for ₹1 crore to finance his MBA at Cambridge University. The siblings have offered to give Reliance the domain at no cost. “We have complete control over this. “We have not received any correspondence or pressure from Reliance or any legal organization,” the siblings said on their website.
The Jio-Disney combination unifies two OTT platforms and more than 100 TV channels.
The ₹70,352 crore (~US$8.5 billion) joint venture merges JioCinema and Viacom18’s media activities with Star India Private Limited to become one of India’s top entertainment brands. An extra ₹11,500 crore (about US$1.4 billion) in expansion capital has been invested in the enterprise by Reliance.
The joint venture will run more than 100 TV stations and generate more than 30,000 hours of TV content annually under the direction of recently appointed Chairperson Nita M. Ambani and Vice Chairperson Uday Shankar. The combined company combines JioCinema and Hotstar, two well-known streaming services with a combined user base of more over 50 million.
Three CEOs will handle different facets of the company: Sanjog Gupta will oversee sports content, Kiran Mani will lead digital operations, and Kevin Vaz will lead entertainment. According to the ownership structure of the joint venture, Viacom18 owns 46.82% of the company, Disney 36.84%, and RIL 16.34%.
Disney CEO Bob Iger emphasized the venture’s ability to provide an improved content portfolio to Indian audiences, while RIL Chairman Mukesh Ambani referred to it as a “transformational era” for Indian media. Several regulatory bodies, including the Competition Commission of India, granted the merger the required clearances.
