Disney would like to stay in the Indian market: Bob Iger
Disney CEO Bog Iger has said that the media conglomerate would like to stay in the Indian market even as it is considering options for the Star India business, which is also known as Disney Star.
«We'd like to stay in that market. But we're also looking to see whether we can, obviously, strengthen our hand and improve the bottom line,» Iger said in response to a question about the company's India business during the Q4 2023 earnings call.
While stating that Disney is considering various options for the India business, which comprises 77 TV channels and one streaming platform, Disney+ Hotstar, Iger added that the company has an opportunity to strengthen its hand in the market.
«We're considering our options there.
We have an opportunity to strengthen our hand. It is now maybe the most populous country in the world, or maybe just still second to China and about to pass them,» he noted.
Disney has held talks with multiple parties, including Reliance Industries, for the sale of its Indian assets.
Media analysts say if the proposed transaction between Disney and Reliance, which owns Viacom18, goes through, it will lead to the creation of a media goliath with an estimated Rs 25,000 crore in topline.
Iger said that the company's linear business in India does quite well and throws up a lot of cash. «But we know that other parts of that business are challenged for us and for others.
And we are looking, I'll call it expensively,» he said.
Star India's entertainment segment is profitable, while the sports and streaming segments are losing money.
During the quarter ending September 30, Disney+ Hotstar's paid subscriber base fell 7% QoQ or 2.8 million to 37.6 million. The total subscriber loss now stands at 23.8 million
