A new media joint venture formed by Reliance Industries and The Walt Disney Company has consolidated a large portfolio of TV, streaming and sports rights under one umbrella, positioning the entity as a powerful player in India’s entertainment market. Valued at ₹70,352 crore, the venture—branded JioStar—gives Reliance control through direct ownership and Viacom18, with Disney holding the remaining stake.
Early operational indicators point to significant scale. JioHotstar, the streaming platform housed within the venture, reported FY26 revenue of ₹31,048 crore and profit before tax of ₹3,228 crore, reflecting the rapid expansion of digital consumption in India. The platform benefits from premium content, marquee sports properties and a broad distribution footprint. The venture is chaired by Nita M. Ambani, with Uday Shankar serving as vice chairperson.
Reliance’s performance and portfolio mix
Reliance Industries, led by Mukesh Ambani, recorded consolidated revenue of ₹1,071,174 crore in FY25, rising to ₹1,175,919 crore in FY26, with profit advancing to ₹95,754 crore. The Oil-to-Chemicals business remains the largest revenue contributor, while consumer-focused segments—telecom and retail—now account for more than half of overall earnings.
Jio Platforms continues to anchor growth with over 488 million users and resilient margins, supported by network investments and bundled digital services. Reliance Retail is expanding both online and offline, sharpening its presence across categories and formats. The media portfolio, however, carries near-term cost pressures: Reliance provided ₹25,760 crore in FY25 for anticipated losses on long-duration sports rights—strategic assets that enhance scale and engagement but require heavy upfront commitments.
Expansion strategy and new initiatives
Reliance is widening its consumer play with plans to introduce Wyzr, a new electronics brand positioned to compete with global names in the Indian market. The company is also entering the packaged water segment with Campa Sure, targeting affordable price points and deeper penetration across retail channels.
On sustainability, the group has set a goal to achieve net carbon zero by 2035 and is investing in integrated solar projects in Gujarat as part of a broader new energy programme. To fund growth and energy transition commitments, Reliance recently raised $2.9 billion via a global loan facility. The media joint venture is expected to be a key pillar in the conglomerate’s multi-sector strategy, leveraging content, connectivity and commerce to drive long-term value.
