Disney CEO Bob Igar joined Reliance Industries Chairman and MD Mukesh Ambani at the company’s annual meeting in Mumbai on Friday to highlight the rapid rise of Yastal, a joint venture between Reliance and Disney, which has become a dominant force in the Indian media ecosystem.
“It’s a privilege to deal with Reliance AGM and mark what has already proven to be an extraordinary partnership,” Iger said. “By combining Reliance’s digital reach, execution and understanding of Indian consumers, Jiostar quickly gained nearly 300 million paid subscribers as a global force of media and entertainment.”
Last year, Reliance Industries and Disney completed the much-anticipated media merger, creating an Indian power worth $8.5 billion. The deal combines Disney’s Star India and Reliance’s VIACOM18 with streaming platform Jiocinema and Hotstar.
In his own remarks, Ambani called Jostal’s creation “a critical moment for the Indian media ecosystem.” He told shareholders that the platform currently offers over 320,000 hours of content, more than six times its closest rival, and Jiohotstar has attracted 600 million users within three months, including 300 million paying subscribers, making it the world’s second largest streaming platform fully built in India. Reliance also holds a 34% share of the television market, combining the following three networks:
The merged Jocinema and Disney+Hotstar streamer Jiohotstar are rolling out new AI-driven features, including Riya, a voice-enabled search tool. Voice prints that use AI’s voice cloning and lip-sync technology to localize shows and films. Jiolenz offers customizable viewing modes. Maxview 3.0 enhances cricket coverage with multiple camera angles, instant highlights and interactive scorecards.
Ambani also renewed its shareholders of Network18, citing the milestones of more than 1 million paid subscribers from MoneyControl Pro, placing it on the top 15 subscription news platforms in the world. FirstPost subscribed to 400 million video views in May and became the most viewed Indian English news channel on YouTube worldwide. CNN-News18 has been leading the general news for three years, while CNBC-TV18 has maintained business news leadership for over 20 years.
Beyond content, Ambani has announced the creation of Reliance Intelligence, a new subsidiary that will drive AI adoption across India, along with a global partnership between the two landmarks.
Reliance and Google Cloud will establish a dedicated AI cloud region in Jamnagar, powered by Reliance’s renewable energy and Jio network. “Jio and Google have come together to democratize the internet for all Indians, so we now democratize intelligence for all Indians,” Ambani said. Google CEO Sundar Pichai added in a statement: “Our work has brought affordable internet access to millions of people, and now we are helping to shape our next leap with AI based on this.”
Reliance also established a joint venture with Meta, which was capitalized for around $100 million, developed a Rama-based enterprise AI solution for India, and chose the international market. “We will democratize corporate-grade AI for all organizations in India, from ambitious SMBs to blue chip companies,” Ambani said. In a statement, Meta CEO Mark Zuckerberg said: “Through this joint venture, we are making Meta’s llama model a real use, and we look forward to Meta expanding its footprint in the enterprise space as we unlock new possibilities.”
