Fairytale ending will elude Disney in India

TV18 Broadcast

11/08/2023 05:02

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Shritama Bose
       MUMBAI, Aug 11 (Reuters Breakingviews) - The $168 bln
Magic Kingdom is bleeding subscribers in the emerging market.
Boss Bob Iger wants to sell or find a partner to salvage the
business’ cratering value. Even if he can do a deal with giants
like Reliance or the enlarged Sony-Zee, the terms will be less
than blockbuster. 
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    CONTEXT NEWS
    Walt Disney on Aug. 9 reported a 30% drop in paid
subscribers in the six months to end June at its Disney+ Hotstar
streaming platform which includes India. It had 40.4 million
subscribers as of July 1. The average monthly revenue per
subscriber held steady at 59 cents, compared to $7.31 per
subscriber in its domestic Disney+ business.
    CEO Bob Iger told analysts on the same day the company will
invest less in local programming in some international markets
and exit some others. 
    Disney is exploring strategic options for its Star India
business, including a joint venture or a sale, the Wall Street
Journal reported on July 11, citing unnamed people familiar with
the matter. 

 (Editing by Una Galani and Katrina Hamlin)
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