JIOCINEMA PIVOTING TOWARDS PAYWALL MODEL
Viacom18-owned streaming platform JioCinema is pivoting towards a hybrid monetisation model by placing Indian general entertainment and movie content behind the paywall, people aware of the development told ET.
The subscription plan, which will include GEC, movie, and Hollywood content, will be priced at Rs 29 per month, one of the persons said, adding live sports will continue to be outside the paywall.
Another person said the platform is looking at multiple subscription plans. Currently, JioCinema has a single subscription plan for Hollywood content from HBO, NBCUniversal, and Paramount Global, priced at Rs 99 per month. The platform is expected to unveil its new subscription strategy soon.
Experts say the ongoing Indian Premier League (IPL) cricket tournament provides a perfect launchpad for JioCinema to unveil its new subscription plans.
Viacom18 declined to comment.
Media analyst Karan Taurani said in a recent note that JioCinema’s revenue for FY24 are estimated at Rs 2,700 crore based on Network18's financials for the last financial year.
JioCinema has been offering premium Indian content across entertainment and sports for free to customers. The platform has built a strong ad business on the back of free streaming of impact properties like IPL and Bigg Boss.
JioCinema's free sports streaming has had a cascading effect on the industry with OTT market leader Disney+ Hotstar also offering Asia Cup, 2023 ICC Men's World Cup, and Pro Kabaddi League for free to mobile users.
Barring Netflix and Prime Video, most of the large OTT players including Disney+ Hotstar, ZEE5, and SonyLIV have a hybrid monetisation model.
In September 2022, Competition Commission of India (CCI) approved the amalgamation of JioCinema, which was owned by a Reliance Industries subsidiary, into Viacom18.
Viacom18 is in the process of merging with Walt Disney-owned Star India to create an $8.5 billion media behemoth. The merged entity will have JioCinema and Disney+ Hotstar, two of the strongest OTT apps in the country.