Disney’s India streaming losses narrow, but investment keeps flowing

MUMBAI: Disney’s India streaming venture is bleeding less, even as the American entertainment giant keeps the money taps open. The equity loss from its JioStar India joint venture narrowed to $64 million for the quarter ended 28 March, down sharply from $103 million a year earlier. Over six months, losses fell to $92 million from $136 million.

The improving numbers came even as Disney’s Cayman Islands arm, Star Group Limited, injected a fresh Rs 123 crore into JioStar India during the January-March quarter under the Reserve Bank of India’s automatic FDI route, according to Department for Promotion of Industry and Internal Trade data.

JioStar India, formerly Star India, is jointly owned by Reliance Industries, holding 56 per cent, Disney, with 37 per cent, and Bodhi Tree Systems, at 7 per cent.

The latest cheque adds to two bigger ones earlier in the year: Rs 2,839 crore in the first quarter and Rs 1,008 crore in the third, both of which were the largest single FDI inflows into India’s broadcasting sector in their respective quarters. That takes Disney’s total investment in the venture to Rs 3,847 crore for 2024-25.

India’s information and broadcasting sector overall drew Rs 1,213 crore in FDI during the quarter, with Zee Entertainment also picking up Rs 418 crore from Invesco-backed OFI Global China Fund LLC.

For Disney, the message is clear: keep funding, keep waiting. The losses are shrinking, and patience may finally be paying off.