Reliance’s streaming service JioCinema surpassed 1.6 crore paid subscribers by the end of September 2024 driven by its affordable monthly plans.
Furthermore, Network18 announced that its over-the-top (OTT) platform recorded a 2X growth quarter-on-quarter (QoQ) during the review period, in its quarterly report for Q2 of fiscal year 2024-25 (FY25).
The company attributes this increase in paid subscribers to the introduction of affordable monthly plans starting at INR 29. A growing content library, including digital-first reality shows and a wide selection of international titles, emerged as key drivers behind the subscriber boost during the latest quarter.
Network18 said in a BSE filing, “JioCinema continued to be the fastest growing subscription-based OTT platform, crossing 16 Mn paid subscribers with a 2X QoQ growth. Affordable monthly subscription plans of INR 29/month and INR 89/month (family plan) and an expanding content catalogue have helped the growth in subscribers.” They further added by saying, “A combination of comprehensive coverage (of Paris Olympics 2024) and a growing interest in non-cricket sports led to high engagement of over 50 mins per day on JioCinema.”
Notably, Reliance’s OTT platform JioCinema introduced its highly affordable subscription plans, priced at just INR 29 per month in April. This is significantly lower compared to the industry average of INR 103 per month for platforms like Zee5, SonyLiv, and Disney+ Hotstar, and even further below the premium plans of Netflix (INR 358) and Amazon Prime Video.
Additionally, this news comes when Reliance Industries Limited (RIL), Viacom18, and The Walt Disney Company move closer to merging their operations. The impending joint venture, valued at $8.5 billion, will combine the media assets, which will control 117 TV channels and boast a massive viewership of 750 million.