Disney Star is outperformed by RIL’s JioCinema in IPL streaming revenue.

&NewLine;<p><a href&equals;"http&colon;&sol;&sol;www&period;ril&period;com" target&equals;"&lowbar;blank" rel&equals;"noopener" title&equals;"">Reliance Industries Ltd<&sol;a>&period; &lpar;RIL&rpar; recently released its financial results for the quarter ended June 30&comma; 2023&comma; and noted that JioCinema&comma; an OTT app&comma; outperformed rival Disney Star&comma; which owned the TV rights to the prestigious cricket tournament&comma; in terms of revenue from the digital streaming of the Indian Premier League &lpar;IPL&rpar;&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p><strong>JioCinema Revenue Is Boosted by More Advertisers<&sol;strong><br>JioCinema&&num;8217&semi;s extensive advertiser base&comma; according to RIL&comma; is what contributed to the platform&&num;8217&semi;s increased revenue&period; According to the business&comma; &&num;8220&semi;JioCinema&&num;8217&semi;s advertising revenue was higher than TV as the platform attracted more than 13 times the number of advertisers on TV&period;&&num;8221&semi;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p><strong>Rising Sales for RIL&&num;8217&semi;s Media Division<&sol;strong><br>The net profit of RIL&&num;8217&semi;s media business fell overall by 25&period;6&percnt; year-over-year &lpar;YoY&rpar; to INR 29 Cr in Q1 FY24&comma; although the revenue increased significantly by 141&period;7&percnt; YoY to INR 3&comma;239 Cr&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p><strong>Success for JioCinema During IPL Streaming<&sol;strong><br>The IPL&&num;8217&semi;s streaming success brought to light JioCinema&&num;8217&semi;s outstanding performance&period; According to the business&comma; &&num;8220&semi;Revenue growth of 141&period;7&percnt; was driven by Viacom18&comma; as IPL on JioCinema delivered record advertising revenues&period;&&num;8221&semi; JioCinema&&num;8217&semi;s success was largely attributed to the benefits provided to advertisers on the platform&comma; including scalability&comma; targeting capabilities&comma; cost flexibility&comma; measurement&comma; and integration choices&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p><strong>Dominance of JioCinema in the OTT Space<&sol;strong><br>RIL is working hard to establish JioCinema as a dominant force in the OTT market&period; The choice to webcast the IPL for free on the Internet attracted a lot of attention&comma; drawing 449 million viewers for the tournament and 120 million for the championship game&period; According to these figures&comma; there were 17 billion video views overall&comma; with each viewer watching a match for an average of more than 60 minutes&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>JioCinema has partnered for a number of years with NBCUniversal and HBO to provide more alternatives for premium consumers as part of its focus on expansion&period; While Reliance Jio&comma; a division of RIL&comma; performed well&comma; increasing its consolidated net profit by 12&period;5&percnt; in the first quarter of FY24&comma; the firm also experienced a 5&period;9&percnt; YoY fall in its consolidated profit after tax&comma; which fell to INR 18&comma;258 Cr&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p><&sol;p>&NewLine;