Recently, Disney+ Hotstar achieved a record of 5.3 crore concurrent viewers during the India vs New Zealand semi-finals. Unfortunately, the Indian team has now lost the finals. However, Disney+ Hotstar has some positive news to share. The streaming service has claimed the top spot with 5.9 crore concurrent viewers during the India vs Australia World Cup final match.
It appears that Disney+ Hotstar will maintain this record for the time being, as there are no high-profile cricket games on the horizon for a while. In India, few events attract as much attention as a cricket match, and there is no equivalent to a World Cup final.
Earlier this year, Mukesh Ambani-led JioCinema held the record for the highest viewership with 3.2 crore concurrent viewers during the Indian Premier League (IPL) 2023 final, featuring Chennai Super Kings versus Gujarat Titans on the platform.
Interestingly, this accomplishment unfolds against the backdrop of Disney’s strategic decision to stream ICC World Cup cricket matches for free to mobile viewers in India, aiming to counter JioCinema’s influence. Furthermore, this success stands in contrast to Disney’s recent challenges in the Indian market, where it is grappling with a decline in digital subscribers and contemplating the future of its local business.
Nevertheless, amid widespread speculation about the future of Walt Disney’s business ventures in the country, CEO Bob Iger has emphatically affirmed the company’s unwavering commitment to the Indian market. The matter was discussed during a recent earnings call, with concerns lingering about the potential exit of Disney from the Indian market. In response, Iger clarified the company’s stance, highlighting the profitability of their linear business in India despite acknowledging challenges in some regions of their operations.
In the last quarter of 2023, Disney+ Hotstar had 3.76 crore paid subscribers, a 7% decline from the previous quarter’s 4.04 crore.
Star India’s earnings dropped from 11.6 crore to 9.2 crore in sports compared to the same quarter last year. Operating income decreased by 29%, from 1.7 crore to 1.2 crore. Despite this, the overall revenue from the sports segment remained steady at 390 crore in both Q4 FY23 and Q4 FY22.
However, the remarkable viewership achievements suggest a potential revival for Disney within India’s fiercely competitive digital landscape.
