iWorld
JioHotstar scores a ton, hits 100 million subscribers in streaming blitz
MUMBAI: JioHotstar has smashed through the 100 million subscriber barrier, a right royal victory in India’s streaming wars. The platform, a product of the $8.5 billion Disney-Reliance mega-merger, has turned streaming from a posh indulgence into a daily must-have for millions of Indians. They’ve clearly got their ducks in a row.
Their secret weapon? Sports, and lots of it. They’ve snapped up the rights to the IPL, ICC events, and the Women’s Premier League, turning cricket into a digital spectacle. And the streamer is not just showing the game; it’s throwing in all the bells and whistles: 4K ultra-HD, AI-powered analytics, real-time stats, and even voice commands. It’s like watching the match with a team of tech wizards in your living room.
But it’s not all about the cricket. JioHotstar boasts a “world’s most extensive” TV library, Hollywood blockbusters, and a smorgasbord of Indian language content. It has even dabbled in live streaming cultural events, from Coldplay concerts to religious ceremonies, proving they’re not afraid to mix things up.
“We have always believed that world-class entertainment should be accessible to all,” said JioStar CEO Kiran Mani sounding rather pleased with himself. “This milestone not only underscores India’s limitless potential but also strengthens our commitment to pioneering category-first experiences.”
The streamer has also launched Sparks, featuring India’s popular content creators, which sounds like a right old digital knees-up.
This subscriber surge marks a significant victory for JioHotStar, proving that a potent mix of sports, entertainment, and a bit of tech wizardry can win the hearts (and wallets) of millions. And with the IPL 2025 season in full swing, one imagines the team is popping the champagne.
iWorld
Bill Ackman’s Pershing Square makes $64 billion bid to acquire Universal Music Group
Ackman pitches NYSE relisting plan as UMG board weighs unsolicited offer
The hedge fund has proposed a business combination that values UMG at €30.40 per share, representing a hefty 78 per cent premium to its current trading price. The offer includes €9.4 billion in cash alongside stock in a newly formed entity, with shareholders set to receive €5.05 per share in cash and 0.77 shares in the new company for each UMG share they hold.
Under the proposal, UMG would merge with Pershing Square SPARC Holdings Ltd and re-emerge as a Nevada-based entity listed on the New York Stock Exchange. The move is designed to boost investor visibility and potentially secure inclusion in major indices such as the S&P 500.
Pershing Square Capital Management ceo Bill Ackman argued that while UMG’s operational performance remains strong, its market valuation has lagged due to external factors. “UMG’s stock price has languished due to a combination of issues that are unrelated to the performance of its music business,” Ackman said, pointing to concerns ranging from shareholder overhang to delayed US listing plans.
Ackman also flagged what he sees as untapped potential in UMG’s balance sheet and a lack of clear capital allocation strategy. He added that the market has not fully recognised the value of UMG’s €2.7 billion stake in Spotify, alongside gaps in investor communication.
The proposed transaction would also result in the cancellation of around 17 per cent of UMG’s outstanding shares, while maintaining its investment-grade balance sheet. Pershing Square has said it will fully backstop the equity financing, with debt commitments secured at signing. The deal is targeted for completion by the end of the year.
UMG, however, has struck a measured tone. The company confirmed that its board has received the non-binding proposal and will review it with advisers. It reiterated confidence in its current strategy and leadership under Lucian Grainge, signalling no immediate shift in stance.
The proposal comes at a time when global music companies are navigating evolving investor expectations, streaming economics and capital allocation pressures. For Pershing Square, the bet is clear: sharpen the financial story, relist in the US, and let the music play louder in the markets.
Whether UMG’s board is ready to change the tune remains to be seen, but the spotlight on its valuation just got a lot brighter.
