In November 2024, after nearly a year of negotiations, Reliance Industries Limited (RIL) and The Walt Disney Company finalised the merger of Viacom18 and Star India. The result? JioStar, a broadcasting powerhouse commanding nearly 40% of India’s TV network revenues with an extensive portfolio, including Star Plus, Colors TV, Star Gold, Star Sports, and Sports18. In 2023, Star India led the market with $5.3 billion in TV revenue and a 31.5% market share, followed by Sony Pictures Networks India (14.3%) and Zee Entertainment (13.8%), according to Dataxis. While many anticipated the merger would shake up the industry, it has already led to major operational changes at both Star and Viacom18. This reflects the evolving nature of Indian broadcasting, where linear TV remains dominant due to family-oriented viewing habits, affordability and reach, even as streaming services continue to gain traction. What’s Next for 2025? Can a New Merger Challenge JioStar’s Stronghold on Cricket? JioStar's biggest strength lies in sports broadcasting, a goldmine for advertising, especially with IPL and ICC events. With fewer competitors in the bidding process, premium rights competition could stabilise or even decline, ultimately benefiting JioStar by reducing acquisition costs and limiting the risks like Star India 2023 ICC losses. To deflect monopoly concerns, it appears to be strategically allowing rivals to secure smaller rights packages. Sony Pictures Networks India (SPNI) capitalised on this, acquiring an eight-year ACC deal—a non-premium cricket property, but a clear indication of its ongoing ambitions in the sports media space. With the Sony-Zee merger falling apart, speculation is growing around a potential Sony-Sun TV partnership. This move could challenge JioStar’s dominance, highlighting the industry's need for consolidation as broadcasters strive to remain competitive amid JioStar’s control of premium sports rights. Without further consolidation, competing with JioStar’s scale will be an uphill battle for its competitors. This research highlight is based on our data coverage of OTT&Video, TV distribution and Sports in APAC. Missed our webinar "Building a successful OTT platform in the Asian markets" ? Click here to view the recording and download the presentation.
