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Disney+ Hotstar Sets New Peak Concurrent Viewership Record During India vs. South Africa Cricket Match

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Digital concurrent viewership records were shattered during the India vs. South Africa cricket match when Virat Kohli achieved his 49th ODI century, tying with Sachin Tendulkar’s record. Disney+ Hotstar, the official streaming platform for the ongoing ICC Men’s Cricket World Cup, reached a peak of 44 million concurrent viewers during this game. The World Cup has consistently seen new peak concurrent viewership records, and Disney+ Hotstar is offering free mobile access to these matches, including the India vs. South Africa and India vs. New Zealand clashes, which drew 43 million and 44 million peak concurrent viewers, respectively. This is a significant shift, as Disney+ Hotstar had previously put cricket content behind a paywall for several years. The strategy to provide free access to cricket matches seems to be paying off for Disney+ Hotstar, as they continue to break their own records. Prior to the ICC Cricket World Cup, JioCinema set a record with 32 million viewers during the Indian Premier League final between the Chennai Super Kings and Gujarat Titans. Sajith Sivanandan, Head of Disney+ Hotstar India, expressed gratitude for the unwavering support of users and their passion for cricket streaming. The platform is excited to see where this support takes them as the tournament progresses. Media experts believe that the growing popularity of streaming for sports events is due to the convenience of watching matches on mobile devices. As smartphone usage increases, digital viewership for cricket is expected to rise further. Disney+ Hotstar is also encouraging viewers to purchase subscriptions to enjoy ad-free entertainment content, although even premium subscribers will see ads during live sports broadcasts. To enhance the viewing experience, Disney+ Hotstar has collaborated with the International Cricket Council (ICC) to introduce MaxView, allowing cricket enthusiasts to watch matches in a vertical mode (9×14 portrait view). According to BARC data for the All India 2+ audience, the India vs. New Zealand match had 80 million peak concurrent viewers on Disney Star channels and Doordarshan, surpassing the 75.5 million viewers for the India vs. Pakistan match. Disney Star claims that the total viewership for the live broadcast of the World Cup has exceeded 400 million viewers for the first 26 matches. The TV viewership specifically for Disney Star channels in the All India 2+ audience is reported at 310 million.

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Netflix’s Ad-Supported Plan Grows to 15 Million Users, Surpassing Expectations

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Netflix has reported a significant increase in the popularity of its ad-supported subscription tier, revealing that it now boasts 15 million monthly active users worldwide. This marks a threefold growth from the figures disclosed in May and demonstrates notable progress as Netflix approaches the one-year mark since introducing this more affordable option. In response to slowing subscriber growth, Netflix launched this ad-supported plan alongside efforts to curb password sharing, effectively aiming to boost its revenue. This strategy has yielded positive results, with Netflix surprising Wall Street by adding 8.8 million subscribers in its third-quarter report, and similar growth is anticipated for the fourth quarter. Netflix is further enhancing its ad tier by introducing new features for both advertisers and users. Advertisers can now select from 10-, 20-, and 60-second ad formats in addition to the existing 15- and 30-second options. This expanded choice provides advertisers worldwide with multiple formats to utilize. Ad tier members can also look forward to improvements such as higher 1080p streaming resolution and the ability to download movies and series to their devices, starting at the end of the week. Netflix plans to cater to binge watchers by offering an ad-free episode after viewers watch three consecutive episodes of a series, starting in the first quarter of 2024.

Netflix’s Ad-Supported Plan Grows to 15 Million Users, Surpassing Expectations Read More »

Radio Mirchi and Radio Orange Compete to Acquire BIG FM Network in Insolvency Bid

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Two leading radio networks, Radio Mirchi and Radio Orange, are reportedly competing in a bid to acquire BIG FM Radio network, which is currently going through an insolvency process. The bids from Radio Mirchi and Radio Orange, as well as Haryana-based Sapphire FM, are both valued at Rs 251 crore. The lenders involved are expected to request upward revisions to the bids, and the lenders may potentially recover up to 60% of their total admitted claims, considering the cash reserves of BIG FM. BIG FM, owned by Reliance Broadcast Network Ltd, is India’s largest radio network, operating in numerous towns and villages. The insolvency proceedings began after BIG FM failed to repay a debt of Rs 175 crore, with total lender claims amounting to Rs 578 crore. Lenders include IndusInd Bank, HSBC Asset Management, Franklin Templeton MF, and Reliance Commercial Finance. The insolvency case is related to Reliance Broadcast Network’s failure to clear a financial debt of Rs 175 crore, stemming from NCDs issued in 2015 and 2016. IDBI Trustee Services represented L&T Investment Management Services in the case, with Reliance Capital serving as the guarantor for Reliance Broadcast Network. However, at the time of NCD redemption in 2020, the payment was not made, leading to the insolvency proceedings.

Radio Mirchi and Radio Orange Compete to Acquire BIG FM Network in Insolvency Bid Read More »

ICC Cricket World Cup 2023 Sets Unprecedented Viewership Records on Disney Star Network

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Disney Star has achieved record-breaking viewership for the ICC Men’s Cricket World Cup, showcasing the widespread cricket fever. According to data from BARC shared by Disney Star, the first 18 matches of the tournament amassed a staggering 123.8 billion viewing minutes. This reflects a remarkable 43% increase compared to the previous edition held in England and Wales in 2019. Additionally, the current World Cup, which commenced on October 5, attracted 364.2 million viewers for these initial 18 matches. One of the standout moments was the highly anticipated India vs. Pakistan clash on October 14, which saw 76 million concurrent TV viewers and 35 million simultaneous digital viewers. The tournament also witnessed a new digital concurrency record during the India vs. New Zealand match in Dharamsala on October 22, surpassing the previous record set during the India-Pakistan match, with 43 million viewers on Disney+ Hotstar. This epic clash marked the highest peak viewership in digital cricket history across all formats. Notably, attendance at the venues also surged, with over 542,000 fans present at matches during the first half of the tournament. This is a substantial increase of 190,000 more attendees compared to the equivalent stage in 2019, as reported by the broadcaster. Disney Star anticipates further momentum in the tournament, driven by the strong performance of the Indian team, the fluctuating fortunes of top teams, and a competitive points table, according to Sanjog Gupta, Head of Sports at Disney Star. The broadcaster remains committed to delivering exceptional coverage of the global event and aims to continue delighting sports fans around the world.

ICC Cricket World Cup 2023 Sets Unprecedented Viewership Records on Disney Star Network Read More »

Reliance Industries Nearing Multi-Billion Dollar Deal to Acquire Disney’s India Operations

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Reliance Industries Ltd., led by Mukesh Ambani, Asia’s wealthiest tycoon, is reportedly nearing a significant deal involving cash and stock to acquire Walt Disney Co.’s operations in India. This deal revolves around Disney’s controlling stake in the Disney Star business, valued at approximately $10 billion, offering an alternative to the previously considered piecemeal transactions. Reliance assesses the assets at around $7 billion to $8 billion. The formal announcement of this acquisition is expected as early as next month, and it may include the integration of some of Reliance’s media units into Disney Star, although specifics remain undisclosed. According to insiders, Disney is likely to retain a minority stake in the Indian company following the completion of the cash and stock exchange. It’s important to note that no final decision has been reached regarding the deal or its valuation. Disney might still choose to retain ownership of the assets for a bit longer. Both Disney and Reliance declined to comment on the ongoing discussions. This potential deal underscores Mukesh Ambani’s growing influence in India’s entertainment industry. In 2022, he secured the streaming rights for the Indian Premier League for $2.7 billion and subsequently offered free broadcasts of the popular domestic cricket tournament on the JioCinema platform. Furthermore, Reliance obtained a significant contract to broadcast HBO shows from Warner Bros Discovery Inc. in India, content that was previously held by Disney. Despite Disney Star’s challenges with declining subscriber numbers, the media group has been actively investing in the market. In the past, they explored various options for the business, including an outright sale or forming a joint venture. Interestingly, Disney’s Indian streaming platform recently achieved a milestone by attracting a record 43 million viewers for the 2023 Men’s Cricket World Cup match between India and New Zealand, surpassing the viewership of the highly anticipated India-Pakistan match earlier this month, which had 35 million viewers.

Reliance Industries Nearing Multi-Billion Dollar Deal to Acquire Disney’s India Operations Read More »

Box Office Set to Break Records in 2023, Aiming to Cross ₹12,000 Crore Mark

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Box-office collections in 2023 are on track to exceed ₹12,000 crore, according to the latest report from Ormax Media. The total box-office earnings for the first nine months of this year have reached ₹8,798 crore, marking a 6% increase over the same period in 2022. This year is anticipated to become the highest-grossing ever, with the potential to cross the ₹12,000-crore milestone, primarily due to the upcoming releases of movies like Tiger 3, Salaar, and Dunki. In 2022, the gross box-office collection amounted to ₹10,637 crore, as reported in a previous joint study by GroupM-Ormax Media. Shah Rukh Khan’s film “Jawan” emerged as the most successful movie of the year, raking in ₹733 crore, followed by “Pathaan” with ₹646 crore. “Gadar 2” was the only other film to surpass ₹500 crore, with earnings of ₹614 crore. Additionally, “Jailer” and “Adipurush” managed to collect ₹397 crore and ₹331 crore, respectively. Box office success continued in 2023, with movies released in September generating ₹13.53 crore, marking the fourth month this year to surpass the ₹1,000-crore mark. The month of August witnessed the highest box office collections, with earnings totalling ₹1,610 crore. Notably, gross box-office collections for January and June reached ₹1,388 crore and ₹1,073 crore, respectively.

Box Office Set to Break Records in 2023, Aiming to Cross ₹12,000 Crore Mark Read More »

Disney+ Hotstar’s Parent Company Novi Digital to Merge with Star India for Streamlined Operations

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Novi Digital Entertainment, the company behind Disney+ Hotstar, is in the process of merging with its parent company, Star India, owned by The Walt Disney Company, as reported by the Economic Times. The formal merger proposal has been submitted to the Mumbai branch of the National Company Law Tribunal (NCLT). This strategic move aims to streamline their activities in streaming, broadcasting, and distribution. In their merger application, Star and Novi emphasized that the merger would bring about cost-saving benefits by leveraging economies of scale, fostering synergies, improving operational efficiency, focusing on growth, optimizing resource utilization, and reducing expenses. This development aligns with Walt Disney’s efforts to explore potential investors for Star India. Disney has been in talks with companies like RIL and Blackstone regarding a potential sale, either in part or in full, of Star India, a major player in both traditional television and the streaming industry.

Disney+ Hotstar’s Parent Company Novi Digital to Merge with Star India for Streamlined Operations Read More »

India’s Phenomenal Triumph: 107 Medals at Hangzhou Asian Games, Fearlessly Facing Asian Giants

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India achieved a significant milestone at the Hangzhou Asian Games by securing a total of 107 medals, marking the first time the country has entered the exclusive club of nations with a three-digit medal tally. This accomplishment places India alongside sporting giants like China, Japan, and Korea, although China’s dominance with 200 gold medals remains unparalleled. Nevertheless, India has successfully overcome a psychological barrier with this achievement. PM Modi congratulated the Indian athletes upon achieving the remarkable milestone of 100 medals, through his tweet. A momentous achievement for India at the Asian Games! The people of India are thrilled that we have reached a remarkable milestone of 100 medals. I extend my heartfelt congratulations to our phenomenal athletes whose efforts have led to this historic milestone for India.… pic.twitter.com/CucQ41gYnA — Narendra Modi (@narendramodi) October 7, 2023 The medals earned in traditional strongholds such as shooting, hockey, wrestling, and kabaddi played a pivotal role in breaking this barrier. Shooting, in particular, made a remarkable resurgence with 22 medals, including 7 golds, the highest by any participating nation. India’s shooters exhibited exceptional talent and competitiveness, often rivalling China. Athletics also stood out with 29 medals, with javelin star Neeraj Chopra’s consistent performances instilling hope of future Olympic success. However, the ultimate evaluation of these medals is viewed through the lens of the Olympics. Compound archery, despite its dominance, is not yet an Olympic sport, prompting China to pay less attention to it. Sports like rowing and boxing contributed five medals each, but the quest for gold medals in these disciplines, along with wrestling, is an area that requires improvement leading up to the Paris Games. In wrestling, changes were made to enhance safety for women wrestlers, and the absence of gold medals for athletes like Vinesh Phogat and Bajrang Punia calls for introspection on the challenges within the system. Boxer Nikhat Zareen’s missed gold serves as a reminder not to become complacent. A gold opportunity was also missed in golf and badminton. However, India made history with Satwiksairaj Ranki Reddy and Chirag Shetty’s gold in men’s doubles badminton and HS Prannoy’s hard-fought bronze. One poignant moment was Wushu athlete Roshibina Devi’s silver medal, which raised questions about the ongoing issues in Manipur and China’s visa policy affecting Arunachal’s Wushu players. Cricket’s two gold medals sparked controversy due to rain interruptions, casting doubts on the sport’s suitability in multi-sport Games. Notably, Ayhika and Sutirtha Mukherjee’s bronze medal in table tennis doubles, defeating China, and India’s success in table tennis and badminton against strong competition signify substantial progress. India has fearlessly won medals against the might of Asian superpowers, reaffirming its growing presence in the world of sports.

India’s Phenomenal Triumph: 107 Medals at Hangzhou Asian Games, Fearlessly Facing Asian Giants Read More »

Cricket World Cup 2023 Begins Today: No Opening Ceremony, But Anticipation High for England vs. New Zealand Opener

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The 2023 Cricket World Cup is commencing today, featuring a showdown between defending champions England and last edition’s runners-up New Zealand at the Narendra Modi Stadium in Ahmedabad. While there were some initial reports suggesting the possibility of an opening ceremony preceding the tournament’s kickoff, neither the Board of Control for Cricket in India nor the International Cricket Council have confirmed any such event. As things currently stand, it appears that there won’t be an opening ceremony for the Cricket World Cup. According to a report in the Times of India, an opening ceremony was never part of the plan for this World Cup. “There was never an opening ceremony planned for the World Cup. I can confirm that,” said an unnamed source. “In the case of the IPL, you can have a short opening ceremony since the matches start in the evening. However, in this World Cup, matches commence in the afternoon,” the source explained. While an official opening ceremony is not on the agenda, the BCCI did organize the Captains’ Day on the eve of the England vs. New Zealand opener. During this event, all ten team captains underwent questioning by former India head coach Ravi Shastri and ex-England captain Eoin Morgan. When asked about the trend where the hosting nations won the last three World Cups, India captain Rohit Sharma downplayed its significance. “I’m not dwelling too much on that, but yes, in the last three editions, hosting teams have emerged as World Cup winners, and we will give our all in this World Cup and savor the tournament,” Rohit stated during the World Cup 2023 Captain’s Day event. He also expressed optimism about the tournament’s reception, saying, “People are going to love this tournament. The stadiums will be packed. Indians adore their cricket. It’s going to be a fantastic tournament.” The opening match of the Cricket World Cup is scheduled to commence at 2:00 PM IST, with the toss taking place at 1:30 PM IST.

Cricket World Cup 2023 Begins Today: No Opening Ceremony, But Anticipation High for England vs. New Zealand Opener Read More »

Netflix Mulls Tax Evasion Case Appeal to Tribunal

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Netflix is reportedly considering taking its case to the Income Tax Appellate Tribunal concerning the alleged tax evasion of Rs 196 crore, as stated in a media report. The international tax division of the Income Tax department has accused the streaming giant of evading income tax in this substantial amount. Netflix’s decision to approach the tribunal follows a ruling earlier this year by the Dispute Resolution Panel that favoured the tax department. According to the Income Tax department, Netflix earned Rs 503 crore from its Indian operations between April 2020 and December 2020. Although Netflix has offered to pay Rs 13.36 crore, the department has calculated the tax liability to be Rs 490 crore, contending that the operations conducted in India through a Permanent Establishment (PE) arrangement are subject to taxation, resulting in a tax liability of Rs 196 crore. A spokesperson for Netflix is quoted as stating, “We are committed to fully complying with tax laws and their global requirements.”

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