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io Studios has strategically expanded its presence beyond the Hindi market | Photo: Bloomberg
Jio Studios, the media and content arm of Billionaire Mukesh Ambani-led Reliance Industries, has garnered Rs 700 crore at the box office, according to the latest annual report of the oil-to-chemicals company.
The company has an “action-packed year” with 11 theatre releases, 35 direct-to-digital releases and 8 original web series across languages and genres produced by the company, which is “the largest by any film studio” in 2023-24.
These were released across theatres, OTT and broadcast platforms including Jio Cinema, Netflix, Amazon Prime Video, Disney+ Hotstar, Colors and Star Network, it added.
“With eight consecutive hits, Jio Studios’ films garnered a whopping Rs 700 crore at the box office with every second film in Q4 FY2024 being a Jio Studios film,” it said.
Besides, Jio Studios also has an “extensive pipeline of theatrical spectacles”, the report added.
“Jio Studios has strategically expanded its presence beyond the Hindi market, making significant inroads in regional language markets, through meticulous craftsmanship and a deep understanding of diverse cultural nuances,” it said.
It has brought Marathi cinema to “centre stage” with the release of films like Baipan Bhari Deva, which was one of the highest-grossing Marathi films.
“Additionally, our foray into Tamil, with projects such as Thangalaan starring Vikram, and into Bengali with releases such as Dawshom Awbotaar and Kabuliwala underscores our commitment to explore and embrace the vast potential of non-Hindi language markets,” it added.
Reliance is India’s largest media conglomerate comprising Network18, TV18, Viacom18, Jio Studios, and other investments.
“With a portfolio of 63 TV channels, OTT platforms, digital news and information platforms, Reliance connects with consumers across platforms with tailored content spanning entertainment, news, sports, movies, and live events,” it said.
Currently Reliance has 12.7 per cent share in the TV network viewership.
Its OTT platform Jio Cinema’s average monthly reach is 225 million.
Its partnership with Disney “will not only help to capture the growth opportunities presented by India’s rapidly growing media landscape but also to shape its evolution”, it added.
The JV with Disney will combine the businesses of Viacom18 and Star India to form “one of the largest Indian M&E companies”.
RIL will “invest Rs 11,500 crore into the JV for its growth plan,” it said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Aug 07 2024 | 10:47 PM IST
