In a potential blow to SVOD subscriber growth in India, Disney lost out on its bid to retain Disney + Hotstar streaming rights to Indian Premiere League cricket. Disney lost the rights to Viacom18 — an Indian subsidiary of Paramount Global, parent to the Paramount+ streaming service.
Disney reportedly paid a record 236 billion rupees ($3 billion), while Viacom18 — which is 49% owned by Paramount Global — paid 205 billion rupees ($2.6 billion) for the streaming rights covering 410 matches over a five-year period.
The streaming rights to cricket have been key to driving Disney+ subscriber growth past 137 million in the most-recent fiscal period that ended March 31. Of that tally, more than 50 million subs come from India — largely due to IPL cricket, which is a national sport.
The winning bid could factor significantly in the success of Paramount+, which is set to launch service in India in 2023 together with Viacom18.
“This year will be monumental for our streaming strategy as we accelerate our global ambitions, rapidly expanding Paramount+ in Europe beginning with the U.K., Italy, Germany, France and more by the end of this year and debut in Asia with South Korea in June,” Raffaele Annecchino, president and CEO of international networks, studios and streaming at Paramount Global, said in a statement last month.
Viacom18/Paramount Global reportedly beat out third-party bids from Sony and Amazon Prime Video.