CHENNAI: At the World Audio Visual & Entertainment Summit (WAVES) in Mumbai, Uday Shankar, the Vice Chairman of JioStar, dropped a bombshell regarding the company’s massive investment plans in content. This fiscal year, JioStar is set to pour an eye-popping ₹32,000-33,000 crore into content creation, a clear sign that India’s media landscape is in for a transformative phase.
Shankar revealed that in FY24 alone, Jio Cinema and Disney+Hotstar together spent ₹25,000 crore on content, which then surged to ₹30,000 crore in FY25. But that's just the tip of the iceberg—next year, the duo plans to break new ground with a spend upwards of ₹32,000-33,000 crore. "In three years, we’ve already invested more than $10 billion," Shankar proudly stated, emphasising the long-term vision behind these colossal financial commitments.
For Shankar, the logic behind such astronomical investments is clear. Indian media companies like JioStar are deeply focused on catering to local consumers, with their returns expected to come from the domestic market itself, unlike global counterparts who often look beyond borders for financial gains. In fact, he firmly believes that this focus on Indian audiences is the key to continued success.
Shankar also exuded confidence about the company's future growth trajectory, specifically in the realm of subscriber numbers. JioStar is on track to hit an impressive 300 million subscribers during the Indian Premier League (IPL) season, a feat he credits to the timely merger of Jio Cinema and Disney+Hotstar when Pay TV was supposedly on the decline. Far from losing subscribers, the Pay TV segment has seen a resurgence, and Shankar is optimistic that this momentum will continue.
Looking ahead, Shankar emphasized the critical need for local content that resonates with the tastes and aspirations of the Indian audience. He stressed that while content made for global markets can sometimes make its way to India, it’s the homegrown, locally relevant shows that will drive the media revolution here. "It should ideally travel to the world, but you can't just import content meant for global consumption and expect it to keep pace with India's surging demand," he explained.
In essence, JioStar's aggressive content strategy isn't just a play for numbers—it’s a well-calculated move to shape the future of Indian entertainment, ensuring that it not only serves the country’s vast and diverse population but also positions itself as a global content powerhouse.
Shankar also exuded confidence about the company's future growth trajectory, specifically in the realm of subscriber numbers. JioStar is on track to hit an impressive 300 million subscribers during the Indian Premier League (IPL) season, a feat he credits to the timely merger of Jio Cinema and Disney+Hotstar when Pay TV was supposedly on the decline. Far from losing subscribers, the Pay TV segment has seen a resurgence, and Shankar is optimistic that this momentum will continue.
Looking ahead, Shankar emphasised the critical need for local content that resonates with the tastes and aspirations of the Indian audience. He stressed that while content made for global markets can sometimes make its way to India, it’s the homegrown, locally relevant shows that will drive the media revolution here. "It should ideally travel to the world, but you can't just import content meant for global consumption and expect it to keep pace with India's surging demand," he explained.
In essence, JioStar's aggressive content strategy isn't just a play for numbers—it’s a well-calculated move to shape the future of Indian entertainment, ensuring that it not only serves the country’s vast and diverse population but also positions itself as a global content powerhouse.