Walt Disney APAC President and Star & Disney India chair Uday Shankar said that the media industry had done itself no favours by relying disproportionately on ad revenue over the last few years. "The biggest pain of the industry, for print, TV, and digital, is disproportionate dependence on advertising. Advertising revenue in the 2000s used to be about a billion dollars, and now it is ten billion dollars," Shankar said at FICCI e-FRAMES 2020's inaugural session. "It has helped us grow, but it has been a bit of a distraction. Globally, the industry has grown, through a system where consumers pay," Shankar pointed out. Interestingly, Hotstar, which Disney owns, is one of the biggest examples of this phenomenon. In April, Disney disclosed that Hotstar (now renamed Disney+ Hotstar) has 8 million paying subscribers, which is a small fraction of what it claims are over 300 million monthly unique users. "All of us are guilty of this," Shankar said. "We decided to be shortsighted and subsidise our products, to create hurdles for smaller challengers. That has become a very big setback for the industry. If the industry has to grow, what has to be fixed is our ability to get people to pay for what they consume. That's fair, and that's the only way we can grow." In an interview with ET Now, Shankar reportedly said that Hotstar was looking to get "tens of millions, if not hundreds of millions" of paying subscribers in the future. We will be hurt badly…
- RBI increases UPI and recurring transaction limits for certain categories December 8, 2023
- The Quantum Hub discusses concerns on age verification and children’s data processing under India’s data protection law December 8, 2023
- India’s central bank to set up cloud facility for financial sector December 8, 2023
- Navigating the Complexities of Open Source AI: Insights from Carnegie India Summit December 8, 2023
- Supreme Court Dismisses Plea by Foundation for Media Professionals on Internet Shutdowns December 8, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...
Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...
RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.
Straw man fallacy: IT Ministers’ defence of government exemptions in data protection law misses the point
Both the IT Minister and the IT Minister of State have chosen to avoid the actual concerns raised, and have instead defended against lesser...
The Central Board of Film Certification found power outside the Cinematograph Act and came to be known as the Censor Board. Are OTT self-regulating...
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...