According to Mukesh Ambani, the company’s chief executive officer, Reliance Industries Ltd’s (RIL’s) entertainment division Viacom18 is seeking to aggressively invest in film rights and original content for its OTT platform.
Ambani claimed that Viacom18’s acquisition of the digital rights to the Indian Premier League (IPL) for the following five years has “confirmed its dominant position with a high-decibel foray into sports.” In June, Viacom18 defeated Disney-Star to get the digital rights to the premier cricket competition for INR 20,500 Cr ($2.57 Billion). IPL viewership will enable Viacom18’s OTT platform, Voot, to become a dominant force in the Indian market and achieve break-even status in 2027, according to a recent JM Financial analysis.
