 "Star pumps Rs 1,233 cr into Hotstar, Starsports.com as competition heats up")
STAR India, a media company backed by Twenty-First Century Fox, has injected Rs 1,233 crore ($192.04 million) into its digital content arm over the last six months amid intense competition among online video providers in India.
Through a rights issue, STAR India infused the money in Novi Digital Entertainment, which runs streaming video platform Hotstar and Starsports.com, regulatory filings showed. STAR on Tuesday won the television and digital rights for Indian Premier League cricket for the next five years with a staggering $2.55-billion bid. India’s
$20-billion media and entertainment industry is in the middle of an intensifying war for content between global firms such as Amazon.com, Netflix Inc and and a host of home-grown players.
Facebook Inc is also keen to jump on the bandwagon. The company was one of the bidders for IPL's digital rights, along with other domestic players such as telecom operators Bharti Airtel Ltd and Reliance Jio.
Hotstar, is the market leader among India's over-the-top platforms when measured by active subscribers, and holds exclusive Indian rights to stream many hit sitcoms from the U.S. TV channel operator HBO, including "Game of Thrones".
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%