Disney projects $300 mn equity loss in FY25 from India JV with Reliance
Media and entertainment conglomerate Walt Disney Company has projected an equity loss of approximately $300 million for FY25 from its India joint venture with Reliance Industries Ltd, primarily driven by purchase accounting amortization.
The joint venture, formalized on 14 November 2024, combined Disney's Star-branded general entertainment and sports channels and its Disney+ Hotstar streaming service with the media assets controlled by Reliance. The Mukesh Ambani-owned firm holds a 56% controlling stake in the joint venture, Disney retains 37%, and an investment firm holds the remaining 7%.
With this restructuring, Disney no longer consolidates Star India's results in its financials. Instead, it reports its 37% stake in the JV under 'Equity in the income of investees.' This shift led to a sharp drop in international operating income, which fell 84% year-on-year in Q2 FY25—from $92 million to $15 million—due to the exclusion of Star India's contribution. Disney follows October to September fiscal year.
For the second quarter ended 29 March, Disney reported a 7% increase in total revenues to $23.6 billion, driven by a strong performance in its entertainment and experiences segments, according to its earnings report released Wednesday. The entertainment segment posted $1.3 billion in operating income, up $500 million from a year earlier. Linear networks' operating income grew 2% year-on-year, but the company clarified this comparison includes $89 million in operating income from Star India in Q2 FY24, which is no longer present this year.
The company also noted subscription revenue growth from its direct-to-consumer (DTC) platforms like Disney+ and Hulu, driven by higher prices and more subscribers. However, this was partially offset by foreign exchange headwinds and the absence of Star India's DTC revenues in the current quarter.
Disney also recorded $109 million in content impairment charges in Q2 FY25, while the same quarter a year earlier had seen a massive $2.05 billion in goodwill impairments, largely linked to Star India and its linear networks business. Meanwhile, income from equity investees dropped to $36 million from $141 million a year ago, reflecting the India joint venture losses.
The India JV now combines Reliance's Viacom18 network (with channels like Colors and Sports18) and Disney's Star network (including Star Plus, Star Gold, and Star Sports) under a single umbrella. On the streaming front, the JV brings together JioCinema and Disney+ Hotstar, creating a digital powerhouse with a combined reach of over 750 million viewers in India.
The combined Reliance-Disney streaming entity is three to four times bigger than the likes of Netflix in terms of total hours of programming and may even look at acquiring smaller, niche language-specific entities that are struggling to survive, according to industry experts. Their total paid subscriber base of 250 million is far higher than the estimated 12 million for Netflix and Prime Video each.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
3 hours ago
- India.com
India growing Mangoes for 4000 Years, still lagging behind! can Mukesh Ambani's ‘Amnagar' be game changer?
India produces the highest quantity of mangoes globally, its annual output is around 26 million tons. But when we consider exporting India is on fourth rank in the global mango export market. Mexico, Peru, and Thailand are countries which produce fewer mangoes than India but still leads in exporting. Mango Export Tax According to a report by financial advisory firm FinFloww, Mexico earns $575 million (around Rs 4,945 crore) from its 22.5% mango export tax, while India, with only 0.13% of its mangoes exported, generates just $148 million (Rs 1,272 crore). While India has been cultivating mangoes for thousands of years, Mexico began its production just 35 years ago. But Mexico's modern agricultural practices, organized export system, and quality-oriented approach helped them to lead in mango exporting countries. As per FinFloww, India faces challenges like poor cold-chain infrastructure, fragmented farming, bureaucratic red tape, and mango varieties unsuitable for international markets. Around 40% of the total production rots before reaching consumers. Mukesh Ambani's 'Amnagar' The report highlights how Mukesh Ambani's 'Amnagar' project which is a mango farm in Gujrat's Jamnagar can be a game changer. It is 600 acres in Jamnagar, Gujarat. It is Asia's largest mango orchard, with over 130,000 trees and more than 200 varieties. Reliance has invested in modern agricultural technology, world-class production practices, and complete supply chain control to create a fully integrated model. This model can inspire other big farmers in the mango industry and help India to grow its mango export. Jio revolutionized India's telecom sector, the 'Amnagar' project could transform India's agri-export model. FinFloww also believes that Ambani's initiative can change the way India produces and exports mangoes. Global demand for mangoes is projected to reach 65 million metric tons by 2025. If India acts fast, it can face competition.
Mint
5 hours ago
- Mint
Best LED multimedia projectors that could replace your home theatres: Portable, built-in streaming apps and more
LED projectors have quickly become the go-to choice for those wanting vivid visuals, portability, and ease of use. Unlike traditional bulky models, these portable projectors deliver bright, colourful images with high colour accuracy, making them ideal for movies, gaming, and presentations. Product Rating Price Portronics Beem 520 Smart LED Projector with Built-in Stand, Supports 1080p, 2200 Lumens, Ceiling Mountable, Bluetooth & Wi-Fi, Auto Keystone, 720p HD Native, 3W Speaker, Adjustable Height & Angle View Details Portronics Beem 470 Smart LED Projector with 1080p Full HD Resolution, Rotatable Design, Built-in Streaming Apps (Netflix, Prime Video, Hotstar), 4500 Lumens, Screen Mirroring, 5 Watt Speaker(Black) View Details ZYNC T6 Android10 Smart Wi-Fi BT Projector, Portable 4KUltra Full HD LED Projector, Built-in Streaming Netflix, Prime , Hotstar, 1GB Ram,16ROM ,7000 lm,1Speaker, 1920*1080P,Support AV,HDMI,USB(Sliver) View Details Portronics Beem 440 Smart LED Projector with 720p HD Resolution, Rotatable Design, Built-in Streaming Apps (Netflix, Prime Video, Hotstar), 2000 Lumens, Screen Mirroring, 3 Watts Speaker (White) View Details ZEBRONICS PIXAPLAY 63, Smart LED Projector, 5000 Lumens, 150 Inch Screen Size, 200° Tilt Mechanism, Auto Keystone Adaptation, Android, Built-in Speaker, Bluetooth, HDMI ARC, WiFi, 1080p, Miracast View Details View More From compact mini projectors that fit in your bag to feature-packed models with built-in streaming apps and speakers, there's a perfect option for every need. These LED projectors combine convenience and quality, making them the best alternative to traditional home theatres. In this guide, we'll explore some of the Best LED multimedia projectors that blend portability, performance, and smart features for a seamless viewing experience. The best LED multimedia projectors aren't just about sharp visuals or wireless connectivity, they're about how effortlessly they fit into your daily life. The Portronics Beem 520 does just that. From late-night binge sessions to office presentations, this compact projector handles it all. Its built-in stand saves you the hassle of extra setup, while auto keystone correction lets you project without fiddling with angles. Resolution 720p HD Native (supports 1080p) Connectivity Wi-Fi, Bluetooth, HDMI, USB Mount Type Built-in telescopic stand, ceiling mountable Easy wireless streaming from smartphones and laptops Auto keystone correction ensures aligned visuals every time Native resolution is limited to 720p Audio output may need external speakers for larger rooms What are buyers saying on Amazon? Buyers find the projector value for money with clear visuals and easy setup, but sound, brightness, and fan noise divide opinions. You should choose this product because it offers effortless setup, great brightness, and wireless freedom at a budget-friendly price. If you're looking for the best LED multimedia projectors that simplify your setup and let you stream your favourite shows right away, the Portronics Beem 470 hits the mark. With built-in apps like Netflix and Prime Video, this projector for home eliminates the need for external streaming devices. Its 4500 lumens brightness keeps visuals crisp even in bright rooms, and the rotating design helps you get the right angle without shifting the entire projector. Streaming Support Built-in Netflix, Prime Video, YouTube, Hotstar Screen Size Range 40 to 150 inches (1.2 m to 4 m) Built-in OTT apps reduce the need for extra streaming devices 270° rotatable design makes setup flexible and hassle-free Manual focus might need readjustment if the projector is moved No native 4K support for ultra-high-definition content What are buyers saying on Amazon? Buyers say the projector delivers clear visuals, easy setup, and good value, but opinions on sound, brightness, and fan noise vary. You should choose this product because it streams directly, adjusts effortlessly, and delivers bright Full HD visuals without extra gear. The ZYNC T6 stands out among the best LED multimedia projectors for those who want an all-in-one entertainment system on a budget. With its built-in Android OS, it lets you stream directly from Netflix, Prime Video, or Hotstar without plugging in any external device. It supports 4K playback and gives you smooth connectivity with Bluetooth and Wi-Fi. If you're looking for reliable mini projectors with flexible use at home or on the go, this model is worth a look. Resolution 1920 x 1080 (Full HD), 4K supported OS Android 10 with built-in Netflix, Prime, Hotstar RAM & Storage 1GB RAM + 16GB ROM Connectivity HDMI, USB, AV, Wi-Fi, Bluetooth Direct streaming with built-in Android and Google Play Store Lightweight and easy to carry between rooms or outdoors Limited RAM may slow down heavy app usage Average built-in speaker for larger spaces What are buyers saying on Amazon? Buyers praise the projector's clear picture, screen size, and brightness, but share mixed views on sound quality and overall functionality. You should choose this product because it's compact, affordable, and ready to stream right out of the box. Turn any room into your personal cinema with the Portronics Beem 440. This compact smart projector features a 720p HD resolution and 2000 lumens brightness for sharp visuals, even in moderately lit settings. Powered by Android 11, it gives you direct access to Netflix, Prime Video, Hotstar, and YouTube, no extra devices needed. Its 180° rotatable design and wireless screen mirroring make it ideal for binge nights or quick presentations. Resolution 1280 x 720 (HD) OS Android 11 with OTT apps Screen Size 40" to 150" | Projection distance: 1.2–4 m Speaker 3W built-in stereo speaker Connectivity Wi-Fi, screen mirroring Built-in OTT platforms – no need for Fire Stick or laptop Compact design with 180° rotation and auto keystone Not Full HD, so better suited for casual viewing Speaker output may need external audio for larger spaces What are buyers saying on Amazon? Buyers find the projector clear and easy to use, but opinions are mixed on sound, brightness, functionality, and fan noise. Go for it if you want an easy, wireless entertainment setup with preloaded streaming apps and a budget-friendly price tag. Transform your space into a cinema with the Zebronics Pixaplay 63. This smart LED projector offers a bright 5000-lumen output, native 1080p Full HD resolution, and an ultra-wide screen projection of up to 150 inches. With built-in speakers, Android OS, dual-band Wi-Fi, and Bluetooth 5.4, enjoy wireless streaming from Netflix, YouTube, and more. Plus, its 200° tilt mechanism and auto keystone ensure optimal viewing angles without fuss. Resolution 1920 x 1080 (Full HD) Screen Size Up to 381 cm (~150 inch) Connectivity USB, HDMI ARC, AUX, Wi-Fi (2.4GHz & 5GHz), Bluetooth 5.4 Crisp Full HD visuals with high brightness OTT-ready with built-in Android and Miracast/iOS screen casting Auto keystone only for vertical correction Speaker may not be loud enough for large rooms What are buyers saying on Amazon? Buyers say the projector offers sharp visuals and works in lit rooms, but sound and overall quality receive mixed opinions. Ideal for movie buffs and casual streamers alike, the Pixaplay 63 delivers a rich visual experience on a big screen, without the big price tag. The Portronics BEEM 200 Plus brings big-screen entertainment to your home or office without hassle. Its multiple connectivity options and screen mirroring from Android and iOS devices let you easily share movies, presentations, or games. The built-in 4W speakers offer clear sound, making it one of the best LED multimedia projectors for casual viewing or professional use. Portable and simple to set up, it fits perfectly as a reliable mini projector for your home or on-the-go needs. Resolution 1280 x 720 (HD) Connectivity HDMI, VGA, USB, SD Card, Wi-Fi Easy device mirroring from phones Multiple input ports for versatile use Lower brightness for very bright rooms Not full 1080p resolution What are buyers saying on Amazon? Buyers praise the projector's screen size for its price but report issues with brightness and picture clarity. You should choose this product because it offers simple, portable big-screen viewing with flexible connectivity options at an affordable price. The ZEBRONICS PIXAPLAY 67 offers a cinema-like experience at home with a huge 150-inch screen and sharp 1080p resolution plus 4K support. Auto-focus and keystone features make setup quick and hassle-free, while built-in speakers keep sound clear for movies or gaming. This versatile, portable projector fits perfectly in any home setup, making it one of the best LED multimedia projectors for users who want big-screen entertainment with easy connectivity. Resolution 1920 x 1080 Full HD, 4K support Screen Size Up to 150 inches Connectivity Bluetooth 5.2, HDMI, USB, RJ45, WiFi Features Auto focus, auto keystone, Miracast Very bright display suitable for various lighting conditions Easy setup with autofocus and keystone correction Average customer ratings suggest some quality consistency issues Larger size may affect portability compared to mini projectors Click Here to Buy ZEBRONICS PIXAPLAY 67, Smart LED Projector, 8000 Lumens, 4K Support, 150 Inches Screen Size, Auto [ Focus | Keystone ], BT v5.2, HDMI, USB, RJ45, WiFi, 1080p Native, APP Support, BT Remote, Miracast What are buyers saying on Amazon? Buyers praise the projector's clear picture, brightness, sound, and features like auto focus, but some report HDMI signal problems. You should choose this product because it delivers bright, sharp visuals and easy setup for a premium home theatre experience. The Ant Esports View 811 mini projector brings a powerful home theatre experience with up to 150-inch screen size and crisp 1080p resolution with 4K support. Auto-focus and a built-in cooling system ensure smooth, hassle-free use during long viewing sessions. With Android 9.0 and built-in OTT apps like Netflix, this portable projector is perfect for streaming, gaming, or movie nights, making it a top choice among the best LED multimedia projectors. Resolution Native 1920 x 1080 Full HD, supports 4K Screen Size Up to 150 inches Operating System Android 9.0 with built-in OTT apps Connectivity WiFi, Bluetooth 4.2, HDMI, USB, RJ45, AUX Auto-focus and built-in cooling system for uninterrupted viewing Large 150-inch display with sharp 1080p clarity and 4K video support Moderate RAM of 1GB may limit heavy multitasking Sound quality decent but might need external speakers for audiophiles What are buyers saying on Amazon? Buyers praise the projector's excellent picture, contrast, and brightness, but connectivity, HDMI, and sound quality receive mixed reviews. You should choose this product because it offers bright visuals, smart features, and large-screen entertainment in a compact, portable design. The 600 Lumens mini projector is a compact, budget-friendly option for casual movie nights or small gatherings. Its portable size makes it easy to carry outdoors or fit into tight spaces at home. Though best suited for dark environments due to its 600 lumens brightness, it delivers decent visuals with adjustable focus and keystone correction. The built-in speaker adds convenience for quick setups, making it a simple solution for those seeking affordable portable projectors without complex features. Resolution 854 x 480 (supports 1080p input) Portability Compact, lightweight (10 oz) Features Focus adjustment, keystone correction, zoom function Extremely lightweight and easy to carry anywhere Adjustable focus and zoom for flexible viewing Low brightness limits use to dark rooms only Resolution is lower compared to other projectors in its price range What are buyers saying on Amazon? Since its a new product, buyers reviews are not available. You should choose this product because it offers portability and basic projection for casual use at a very affordable price. Brightness, measured in lumens, is key to clear images. For dark rooms, 800–1500 lumens is usually enough. However, if you plan to use the projector in a well-lit room or during the day, look for 2000 lumens or more. Higher brightness ensures sharper images with vivid colors even in ambient light. LED projectors typically offer lower lumens than lamp projectors but compensate with better color accuracy. Consider your room's lighting and screen size before choosing brightness to get the best viewing experience. Resolution determines image sharpness. For casual home use, 720p HD might suffice, but for movies, gaming, and presentations, Full HD (1080p) is recommended. Some advanced LED projectors offer 4K support, providing ultra-clear visuals but at a higher price. Keep in mind that a higher resolution projector is worth the investment if you want crisp images, especially on larger screens. Also, check if the projector supports your device's output resolution to avoid compatibility issues. Portability is a major advantage of LED projectors, especially mini projectors. If you want to carry your projector for outdoor movie nights, business presentations, or travel, lightweight and compact design is essential. Portable projectors often have built-in batteries, wireless connectivity, and easy setup features. However, smaller size may limit brightness or speaker power, so balance portability with your usage needs. If your projector will mostly stay at home, portability is less critical, and you can focus on features like brightness and resolution. Brightness (Lumens) : Ensure the projector is bright enough for your room's lighting conditions, higher lumens work better in well-lit spaces. : Ensure the projector is bright enough for your room's lighting conditions, higher lumens work better in well-lit spaces. Resolution : Look for HD (720p) or Full HD (1080p) for clear and crisp image quality. : Look for HD (720p) or Full HD (1080p) for clear and crisp image quality. Portability : Check the size and weight if you plan to carry it around frequently. Mini projectors offer great portability. : Check the size and weight if you plan to carry it around frequently. Mini projectors offer great portability. Connectivity Options : HDMI, USB, Wi-Fi, and Bluetooth support allow you to connect various devices easily. : HDMI, USB, Wi-Fi, and Bluetooth support allow you to connect various devices easily. Built-in Features : Consider built-in speakers, streaming apps, and smart functionality for convenience. : Consider built-in speakers, streaming apps, and smart functionality for convenience. Lamp Life: LED projectors typically have long lifespans (20,000+ hours), reducing replacement and maintenance costs. Best LED multimedia projectors Resolution Brightness Audio Portronics Beem 520 720p HD (supports 1080p) 2200 Lumens Built-in 3W speaker Portronics Beem 470 1080p Full HD 4500 Lumens Built-in 5W speaker ZYNC T6 1080p Full HD (4K supported) 7000 Lumens Built-in speakers Portronics Beem 440 1280 x 720 (HD) 2000 Lumens Built-in 3W stereo speaker Zebronics Pixaplay 63 1080p Full HD 5000 Lumens Built-in speakers Portronics Beem 200 Plus 1280 x 720 (HD) 200 Lumens Built-in 4W speaker Zebronics Pixaplay 67 1080p Full HD (4K supported) 8000 Lumens Built-in speakers Ant Esports View 811 1080p Full HD (4K supported) 6000 Lumens Built-in 7W speaker Mini Projector 854 x 480 (supports 1080p input) 600 Lumens Built-in speaker Disclaimer: Mint has an affiliate marketing partnership, which means we may get some commission on purchases you make through the retailer sites links provided. These partnerships do not influence our editorial content, which is free from any bias or marketing pitch. We strive to provide accurate and unbiased information to help you make informed decisions. We recommend verifying details with the retailer before making a purchase.
Time of India
5 hours ago
- Time of India
'F**k the Jews': Dave Portnoy explodes on Kirk Minihane as Barstool spirals over ‘Jews joke' controversy
A heated clash erupted between Dave Portnoy and Kirk Minihane at Barstool Sports (Getty Images) Barstool Sports, long known for toeing the line between edgy and offensive, is now facing a public reckoning after a fiery clash between founder Dave Portnoy and Barstool personality Kirk Minihane. The two engaged in a profanity-laced shouting match over antisemitism, freedom of speech, and where the company draws the line on controversial humor. Dave Portnoy and Kirk Minihane clash in explosive Barstool debate over antisemitism and content boundaries The dispute was sparked by a scandal at a Portnoy-owned Philadelphia bar, where a bottle-service sign with the phrase "F--k the Jews" was spotted. After Temple University student Mo Khan initially took responsibility but later backtracked, Dave Portnoy attempted to address the issue by offering to fund an educational trip to Auschwitz. However, when Barstool contributor Beyond Average Mick mocked Portnoy by calling him 'Rabbi Dave,' tensions escalated rapidly. What followed was a volatile exchange on The Unnamed Show, where Minihane suggested inviting Mick on his podcast for an open discussion. Portnoy bristled at the idea, and things quickly spiraled out of control. "Shut the f--k up you bald f--k… you work for me, you little bitch," Portnoy shouted during the episode. Minihane replied defiantly, "For now." Portnoy hit back: "Quit, I'll save $500K." LIVE at 9am EST | 6/3/25 | The Dan Le Batard Show w/ Stugotz The altercation wasn't just about one joke—it exposed deep ideological rifts within Barstool about the kind of speech the company should promote. Minihane insisted he wanted dialogue, not division, claiming he merely sought 'a conversation' with someone Portnoy disagreed with. But Portnoy made it clear where he stood: 'If you're making Jew jokes right now—after Molotov cocktails were thrown at synagogues, or Jews were killed outside museums—you're an antisemitic piece of s--t.' Accountability versus censorship: The Barstool identity crisis In a follow-up video, Portnoy clarified he wasn't advocating for cancel culture or silencing anyone. 'This isn't about jokes in general,' he said. 'It's about the timing, the context, and intent.' Barstool has built its empire by testing limits, but this latest controversy shows those boundaries are now under serious scrutiny. As the company faces growing pressure to evolve with the times, internal fractures like this one highlight a larger identity crisis brewing behind the scenes. Also Read: Steelers risk betraying T.J. Watt's loyalty as contract standoff threatens to end his Pittsburgh legacy Whether Minihane stays or walks away, the conversation sparked by this feud is one Barstool—and its fanbase—won't be able to ignore.
