India’s JioCinema broke the global record for the most concurrent views to a live streamed event on Monday, beating a milestone set by Disney’s Hotstar years ago, as the Asian tycoon Mukesh Ambani spares no expense in expanding his digital empire.
The Indian streaming app, whose partner includes James Murdoch’s Bodhi Tree-backed Viacom18, surpassed the record Monday evening, attracting over 31 million concurrent viewers to the final game of the 16th edition of Indian Premier League cricket tourney between Chennai Super Kings and Gujarat Titans.
In what was a high point for Hotstar, the platform drew an impressive 25.3 million simultaneous viewers for a cricket match in July 2019, a record that went unchallenged for several years. However, as the platform shifted the IPL streaming service to a paid format, it grappled to surpass this benchmark in the subsequent years, underscoring the complexities in balancing reach and revenue within the streaming sector.
Drawing a page from Hotstar’s earlier strategy, Viacom18 is seemingly steering its trajectory along a similar path. The Indian entertainment giant, whose largest investor is Ambani’s Reliance, in a strategic shift last year emerged victorious in a bidding war against Disney, securing the digital rights for the immensely popular IPL for a five-year period until 2027.
As part of its streaming strategy, Viacom18’s JioCinema app is offering free streaming of the tournament to audiences across South Asia, a move that could potentially reshape the region’s digital streaming landscape, analysts say.
JioCinema, which also offers free access to its basic content to Jio telecom network subscribers, recently rolled out a premium tier. As of last month, users can opt for an annual premium plan, unlocking access to a broader range of content for the modest price of 999 Indian rupees – roughly equivalent to $12 – further diversifying its revenue streams and enriching its content portfolio.
Viacom18 has clinched deals with international entertainment powerhouses Warner Bros. and NBCUniversal in recent weeks to make its premium offering a more compelling proposition for potential subscribers.
More to follow.