Latest news with #Reliance-Disney
USA Today
09-05-2025
- Politics
- USA Today
India suspends IPL cricket after escalating tensions with Pakistan
India suspends IPL cricket after escalating tensions with Pakistan NEW DELHI, May 9 (Reuters) - India's cricket board said it had suspended the Indian Premier League (IPL) tournament on Friday as fighting escalated with neighbouring Pakistan, halting play in the sport's richest tournament two weeks before the end of the season. Board members were particularly concerned about the safety of players and whether it was appropriate for such events to take place during the conflict, a source with direct knowledge of the decision told Reuters. "The idea is very clear - it is not appropriate at this time to continue IPL," said the source, who asked not to be named. The suspension would take place "with immediate effect for one week," the IPL wrote in a social media post, confirming an earlier Reuters story. "The decision was taken by the IPL Governing Council after due consultation with all key stakeholders following the representations from most of the franchisees, who conveyed the concern and sentiments of their players, and also the views of the broadcaster, sponsors and fans," the IPL said. The suspension will come as a setback for a Reliance-Disney joint venture which has broadcast rights for the matches, and also scores of companies that have committed millions of dollars for advertising. The suspension means the Indian cricket board and team franchisees will lose some revenues which are linked to match days, the source said. India and Pakistan have been locked in conflict since Wednesday, when India targeted multiple locations in Pakistan, saying they were "terrorist infrastructure", following a deadly attack in Indian Kashmir last month. New Delhi named two Pakistani nationals as suspects and accused Islamabad of being involved in the attack, a charge Pakistan denied and sought an independent probe. India's army said Pakistan's armed forces carried out "multiple attacks" using drones and other munitions across the entire western border on Thursday night and early Friday, a claim Pakistan denied. The tournament began its current season on March 22, and the final fixture was scheduled to be played on May 25, with matches being spread over 13 venues around the country. Thursday's IPL match was abandoned midway after fighting broke out in India's border regions. The cricket board attributed that disruption to a power failure at the stadium in the hill city of Dharamsala. After striking the $8.5-billion media merger with Walt Disney last year, Indian billionaire Mukesh Ambani's Reliance was targeting small businesses and promoting unconventional neuroscience studies to boost its revenues from the IPL.
New Straits Times
09-05-2025
- Politics
- New Straits Times
India suspends IPL cricket league as clashes with Pakistan escalate
NEW DELHI: India's cricket board said it had suspended the Indian Premier League (IPL) tournament today as fighting escalated with neighbouring Pakistan, halting play in the sport's richest tournament two weeks before the end of the season. Board members were particularly concerned about the safety of players and whether it was appropriate for such events to take place during the conflict, a source with direct knowledge of the decision told Reuters. "The idea is very clear - it is not appropriate at this time to continue IPL," said the source, who asked not to be named. The suspension would take place "with immediate effect for one week," the IPL wrote in a social media post, confirming an earlier Reuters story. "The decision was taken by the IPL Governing Council after due consultation with all key stakeholders following the representations from most of the franchisees, who conveyed the concern and sentiments of their players, and also the views of the broadcaster, sponsors and fans," the IPL said. The suspension will come as a setback for a Reliance-Disney joint venture which has broadcast rights for the matches, and also scores of companies that have committed millions of dollars for advertising. The suspension means the Indian cricket board and team franchisees will lose some revenues which are linked to match days, the source said. India and Pakistan have been locked in conflict since Wednesday, when India targeted multiple locations in Pakistan, saying they were "terrorist infrastructure", following a deadly attack in Indian Kashmir last month. New Delhi named two Pakistani nationals as suspects and accused Islamabad of being involved in the attack, a charge Pakistan denied and sought an independent probe. India's army said Pakistan's armed forces carried out "multiple attacks" using drones and other munitions across the entire western border on Thursday night and early today, a claim Pakistan denied. The tournament began its current season on March 22, and the final fixture was scheduled to be played on May 25, with matches being spread over 13 venues around the country. Thursday's IPL match was abandoned midway after fighting broke out in India's border regions. The cricket board attributed that disruption to a power failure at the stadium in the hill city of Dharamsala.
TimesLIVE
09-05-2025
- Sport
- TimesLIVE
India suspends IPL cricket league as clashes with Pakistan escalate
India's cricket board suspended the Indian Premier League (IPL) tournament on Friday as fighting escalated with neighbouring Pakistan, halting play in the sport's richest tournament two weeks before the end of the season. Board members were particularly concerned about the safety of players and whether it was appropriate for such events to take place during the conflict, a source with direct knowledge of the decision told Reuters. 'The idea is clear — it is not appropriate at this time to continue IPL,' said the source, who asked not to be named. The suspension would take place 'with immediate effect for one week,' the IPL wrote in a social media post, confirming an earlier Reuters story. 'The decision was taken by the IPL governing council after due consultation with key stakeholders after the representations from most of the franchisees, who conveyed the concern and sentiments of their players, and also the views of the broadcaster, sponsors and fans,' the IPL said. The suspension will come as a setback for a Reliance-Disney joint venture which has broadcast rights for the matches and also scores of companies that have committed millions of dollars for advertising. The suspension means the Indian cricket board and team franchisees will lose revenues which are linked to match days, the source said. India and Pakistan have been locked in conflict since Wednesday when India targeted multiple locations in Pakistan, saying they were 'terrorist infrastructure', after a deadly attack in Indian Kashmir last month. New Delhi named two Pakistanis as suspects and accused Islamabad of being involved in the attack, a charge Pakistan denied and sought an independent probe. India's army said Pakistan's armed forces carried out 'multiple attacks' using drones and other munitions across the entire western border on Thursday night and early on Friday, a claim Pakistan denied. The tournament began its season on March 22 and the final fixture was scheduled to be played on May 25, with matches being spread over 13 venues around the country. Thursday's IPL match was abandoned midway after fighting broke out in India's border regions. The cricket board attributed that disruption to a power failure at the stadium in the hill city of Dharamsala. After striking the $8.5bn (R154.9bn) media merger with Walt Disney last year, Indian billionaire Mukesh Ambani's Reliance was targeting small businesses and promoting unconventional neuroscience studies to boost its revenues from the IPL.
Mint
07-05-2025
- Business
- Mint
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.
Time of India
03-05-2025
- Business
- Time of India
WAVES Summit 2025: Linear TV isn't dead, it's evolving: Uday Shankar
Uday Shankar , Vice Chairman of the newly merged Reliance-Disney media entity— JioStar, took centre stage on Day 3 of the Waves Summit 2025 in a fireside chat with Vivek Couto , managing director, Media Partners Asia (MPA). In a conversation, Shankar reflected on the sweeping changes reshaping the Indian media and entertainment industry. He spoke about the pivotal moment the sector finds itself in, with technology, consumer behaviour and scale-driven disruption all converging. He underlined that while digital platforms have captured attention and investment in recent years, linear television — particularly Pay TV — continues to hold significant relevance in India. "Linear TV isn't dead — it's just evolving," he said, noting that India remains a unique market where television still plays a central role in content consumption , especially in regional and rural pockets. However, he added, the business model and user experience around TV will need to adapt to keep pace with rising consumer expectations shaped by digital platforms. Shankar also discussed the importance of local content and IP creation, saying the next wave of growth will come from building stories that can travel globally but are rooted in Indian culture. He stressed the need for industry players to look beyond short-term metrics and focus on creating sustainable, long-term value — creatively and commercially. On streaming, he highlighted the milestone that around 700 million Indians are now consuming digital content regularly, with JioStar alone attracting over 500 million users. While praising the strides made, particularly in sports content localised across dialects like Bhojpuri and Haryanvi, Shankar noted that content creation is still lagging behind audience demand. Imported formats and global models, he argued, cannot sufficiently address India's scale or diversity. 'The real leap will come from producing more content rooted in Indian culture that resonates domestically and can travel globally,' he said. This, he emphasised, calls for substantial investment in creative infrastructure—not just in capital, but in storytellers, writers, and fresh talent. Shankar also critiqued the Hindi film industry for stagnation, contrasting its performance with the creative resurgence in southern cinema. He said, 'The audience has moved far ahead, but the creative industry in Bollywood is stuck in time.' Challenges in theatrical exhibition, including high ticket prices and limited screen availability, especially in North India, have further contributed to the dip in box office performance. Touching on monetisation, he challenged the industry to innovate beyond traditional advertising and subscription models, which have remained unchanged for decades. 'Despite advancements in content and distribution, monetisation remains primitive,' he said, urging the need for new revenue models that reflect changing consumer behaviors and economic realities. The conversation also addressed the transformative potential of the JioStar merger. In just three months since the merger, the company has reversed declining Pay TV trends and expanded its streaming base significantly. Shankar credited this to a clear focus on India-centric strategies and affordability, saying, 'If you want to reach 300 million people, you must keep affordability at the core of your strategy.' He disclosed that between 2023 and 2025, the combined entity spent more than $10 billion on content alone, reinforcing its commitment to high-quality, locally resonant entertainment. He said, 'In 2024, the two companies (Disney Star & Viacom18) spent INR 25,000 crores on content alone. In 2025, that number went to INR 30,000 crore and the number next year will be over INR 32,000–33,000 crore. So in three years alone, we have spent more than 10 billion dollars.' He further added, 'When an Indian media company invests a dollar, it is entirely targeting the Indian consumer—their tastes, their requirements—and the recovery is also from India. When a global company spends that money, more often than not, they are not looking at the Indian market or the Indian consumer as their primary target." Looking ahead, Shankar envisions India's $30 billion video entertainment industry growing significantly over the next 15 years—potentially rivaling global leaders like China and the U.S.—provided three critical levers are addressed: deeper distribution, hyper-localised content, and expanded creative capacity. He concluded with a call for bold experimentation and sustained investment, affirming that the fundamentals of storytelling, scale, and strategy will remain paramount.
