JioStar Q3 revenue rises on strong subscription and digital ad growth

Reliance-controlled media and entertainment company JioStar reported higher sequential revenue from its operations in the December quarter, driven by strong growth in subscription revenue across digital platforms and television, and an increase in digital advertising with the expansion of connected TV as well as the launch of new movies and web shows.

JioStar’s third quarter revenue increased by 11.6% compared to the previous quarter ₹6,896 crore, while profit before tax decreased by 32.2% ₹898 crore. Earnings before interest, taxes, depreciation and amortization, or EBITDA ₹against 1,303 crore ₹1,738 crore in the previous quarter.

The company said that the average monthly active users (MAU) on the company’s digital platform JioHotstar in the October-December quarter was 450 million, a 13% increase from the previous quarter, on par with the first quarter (April-June 2025) when the IPL (Indian Premier League) was held.

Entertainment viewing time increased by 15% in the same period, driven by new seasons of reality TV show Bigg Boss (in three languages), strong performance of Hindi and regional launches and continued growth in TV network content.

“The growth story is that we have managed to convert a lot of consumers from cricket to entertainment and keep them hooked on our platform. Our entertainment viewing time grew 15% in the quarter, driven by the biggest seasons of Bigg Boss and strong performance in our regional and Indian portfolio, and most recently a TV network content that continues to deliver big numbers on JioHotstar,” said Kevin Vaz, chief executive officer (CEO) of JioStar’s entertainment business on Friday.

However, Vaz added that the TV entertainment advertising market remains challenging due to spending cuts by FMCG and consumer electronics companies.

Looking at linear television’s overall entertainment pie, its audience share increased by 1% year-on-year to 34.6%, while the company’s Hollywood feature film Avatar: Fire and Ash grossed. ₹200 crore at the box office in 15 days.

Viewing share represents the percentage of total TV viewing time captured by a broadcaster on linear television.

cricket spectatorship

In the sports segment, JioStar said the Women’s World Cup has emerged as the most-watched women’s cricket tournament. The three men’s bilateral cricket competitions performed well, with average viewing time per men’s ODI and T20 match increasing by 55% compared to the period before the Disney Reliance merger. According to the company, digital viewing time for Pro Kabaddi League increased by 120% year-on-year, strengthening Kabaddi’s position as the most-watched sport after cricket.

In February 2024, billionaire Mukesh Ambani’s Reliance Industries Ltd (RIL) and The Walt Disney Co. formed a joint venture combining the businesses of Reliance’s partner company Viacom18 Media Pvt. Ltd and Disney’s Star India.

JioHotstar, the video streaming platform created by the merger of Disney+ Hotstar and JioCinema, has crossed 300 million paid subscribers, RIL said at the company’s annual general meeting last year. On the other hand, according to industry experts, the number of paid subscribers of Amazon Prime Video in India is currently 21 million, while its close rival Netflix’s number is 12-15 million.

According to industry experts, the Reliance-Disney streaming unit combine is 3-4 times larger than Netflix’s peers in terms of total program hours, but it needs more than IPL and hits like Bigg Boss to succeed in the crowded video-on-demand subscription market.

JioStar’s digital CEO Kiran Mani, in a recent interview with Mint, had said that while the IPL is a big story to talk about, the company’s bread and butter is general entertainment. “IPL is the Burj Khalifa of everything we do, but I truly believe that our identity is not driven by IPL in any way. We are the digital arm of a company with a hundred television channels. Television content is rich on the OTT side and has a consistent audience. Series like Kyunki Saas Bhi Kabhi Bahu Thi and Anupamaa have defined households and behavioral patterns in India,” he said.

The combination of JioCinema and Hotstar creates a powerful platform that is ready to accelerate the expansion of India’s premium VoD (video on demand) market, Mihir Shah, vice president of Media Partners Asia, an independent research and advisory firm, told Mint in an earlier interview. But “success will depend on their ability to innovate with diverse content formats, leverage interactive features to deepen audience engagement, and deliver a consistently high-quality experience to a broad user base,” he noted.