JioStar to spend Rs 33,000 crore on content in FY26: Uday Shankar

JioStar's Vice-Chairperson Uday Shankar emphasised that a new approach for monetisation is needed in the industry, which will in turn help Indian media companies to achieve huge valuations

India’s largest media company JioStar will spend Rs 33,000 crore on content in the financial year 2025-26 (FY26), said Uday Shankar, its vice- chairperson.

 

JioStar, the newly formed joint venture between Reliance Industries' Viacom18 and The Walt Disney's India unit, had spent Rs 30,000 crore in FY25 on content and Rs 25,000 crore in FY24 (before the joint venture).

 

“In three years (referring to 2024, 2025 and 2026) alone we have spent more than $10 billion,” Shankar, who is also the co-founder of Bodhi Tree Systems, said at a fireside chat in the World Audio Visual and Entertainment Summit (WAVES).

 

 

He added that when a media company is investing, its investment entirely targets the Indian consumer, their tastes and their requirements. The company’s investments are for the Indian audiences and the recovery of the investments is also from India, while he highlighted the importance of growing India’s storytelling ecosystem rather than relying on global content.

 

He explained that the current business models of advertisement and subscription in the market are outdated and there has been no major innovation for many years in the media and entertainment industry in this segment. He emphasised that a new approach for monetisation is needed in the industry, which will in turn help Indian media companies to achieve huge valuations compared to global giants like Netflix and Tencent.

 

He had the same view as many other global and Indian executives who had been present at the WAVES that India’s media and entertainment industry has more potential to grow.

 

At the same fireside chat, Vivek Couto, managing and executive director, Media Partners Asia, said that the Indian media industry is valued at $30 billion, while in the US it is at $200 billion and in China it is valued at $75 billion.

 

Talking about the untapped advertising potential in Tier-III and -IV cities, Shankar said, “In advertising, India has really only seen the first phase of brand building. The challenge is that we've largely stuck to the same pool of advertisers for years. To move forward, we need to tap into the decentralised economic activity happening in Tier-II, III, and IV cities. If we can help these emerging businesses scale, build new brands, and bring them into the advertising ecosystem, it would create enormous value. If that happens, I genuinely believe the market could double in the next five years.”