Former Google executive Kiran Mani likely to join Mukesh Ambani's JioCinema

Former Google general manager Kiran Mani may join JioCinema as its chief executive officer, Bloomberg News reported. Mani formerly ran Google’s Android operations in the Asia Pacific region. The move is intended to grow the streaming service's mobile customers and its Hollywood partnerships.

Mani will reportedly oversee JioCinema's technological development and enable agreements with Hollywood studios, the report said.

Mani, as per his LinkedIn profile, started as an early investor and consultant to James Murdoch and Uday Shankar's Bodhi Tree investment firm. The parent company of JioCinema, Viacom18, is a partnership of Bodhi Tree, Paramount Global, and Reliance Industries Ltd, controlled by Mukesh Ambani.

The development comes days after it was reported that Disney was in preliminary talks with potential buyers of its India streaming business, including Reliance Industries Ltd.

Launched in 2016, JioCinema has become a crucial platform and has been shaping the future of entertainment consumption in India.

During the 46th AGM of shareholders held last month, Mukesh Ambani, the chairman of Reliance Industries Ltd, highlighted the transformative impact of the Media and Entertainment business and elaborated on the pivotal role played by JioCinema.

Highlighting RIL’s progress in the media and entertainment sector, Ambani said the business “created a huge disruption last year, with JioCinema leading the way”.

“For the first time, IPL was streamed free on JioCinema. It created a global record with a staggering 45 crore viewers tuning in to the platform. More people watched IPL on digital devices than on linear television, marking a tectonic shift in the way content is consumed in India,” he said.

He added: "JioCinema has now become India’s largest digital entertainment destination for blockbuster movies, OTT originals, the biggest reality shows, and exclusive content from leading global studios like HBO and NBCU."

The official Digital Streaming Partner of TATA IPL 2023 — JioCinema claimed to have broken its last season's record of overall video viewership and average viewership in a match in the very first week of this season.

In addition to this, JioCinema registered over five crore app downloads in the first seven days of IPL 2023 with 2.5 crore downloads on the very first day.

It is to be noted that in June 2022, Disney+ Star, one of the leading streaming platforms in India and JioCinema's rival, lost the rights to broadcast the IPL on the digital platform to Reliance-owned Viacom18 for Rs 26,000 crore.

On the other hand, the partnership between HBO and Hotstar also ended, leaving the platform without some of its most successful and watched shows like Succession, Game of Thrones, Westworld among others. JioCinema has already signed a deal with HBO for its content.

During this year's IPL season, JioCinema onboarded a record 23 sponsors to advertise on the platform. Both the number of advertisers roped in and the revenue booked surpassed the previous season of the tournament on digital platform.

Earlier this month, Viacom18 bagged BCCI TV and digital rights, in a five-year deal worth Rs 5,963 crore.

Viacom 18 bid the highest in both spheres, beating Disney Star and Sony, and acquired the rights for approximately Rs 5,963 crore. The break-up was Rs 3,101 crore for the digital platform and Rs 2,862 crore for linear telecast.

The latest deal puts the value of each international match during the cycle at Rs 67.75 crore, up from Rs 60 crore that Star India had paid BCCI in the previous cycle.

Viacom will broadcast the Team India home matches, IPL (digital), Women IPL, Olympics 2024, SA home matches 2024, T10 League, Road Safety World Series, SA20, NBA, Serie A, La Liga, Ligue1, and Diamond League. 

Sports18 will telecast the matches, international and domestic on TV, while it will be live streamed on JioCinema as OTT (over the top) platform.

Also read: JioFiber, AirFiber prepaid recharge plans under the price of Rs 1,000

Also read: RIL shares down 11% since Jio Financial listing, m-cap falls Rs 1.9 lakh crore. What's next?

Also read: Hindustan Zinc plans separate entities for its commodities to unlock 'potential value'; shares zoom