JioStar posts strong Q2 performance following merger
JioStar, born from the landmark merger of Disney’s Star India and Reliance-backed Viacom18, has posted impressive results in its first full quarter as a unified media entity. Parent company Reliance Industries revealed that for the quarter ending September 30, the media arm recorded its highest earnings to date, underscoring the early success of one of India’s most significant media consolidations.
The media division recorded earnings before interest, taxes, depreciation, and amortization (EBITDA) of US$ 196 million for the quarter, with industry-leading margins of 28.1%. Gross revenue for the quarter reached US$ 815 million, while profit after tax stood at US$ 149 million.
For the half-year period, JioStar’s revenue totaled US$ 2.08 billion, with EBITDA of US$ 310 million, representing a 17.5% margin — a strong signal of operational efficiency during the early post-merger phase.
JioHotstar crosses 400 million users, cricket leads the way
JioHotstar, the group’s flagship streaming platform, maintained impressive user engagement even after the conclusion of the Indian Premier League, averaging 400 million monthly active users during the quarter.
The highly anticipated India-England Anderson-Tendulkar Trophy became the most-watched Test series ever on a digital platform, drawing 170 million viewers and setting a new benchmark for cricket streaming.
“Ongoing efforts in personalization and seamless content discovery, combined with effective marketing strategies, resulted in improved user retention and higher engagement,” the company stated in its results announcement.
Beyond cricket, sports programming on JioHotstar also saw significant momentum. Wimbledon viewership on the platform grew by 77%, and the newly acquired U.S. Open generated 388 million minutes of watch time on linear TV — the tournament’s highest-ever performance in India. Other major sports properties, including Premier League football, Pro Kabaddi League Season 12, and the ICC Women’s World Cup, also launched successfully during the period.
TV dominance and entertainment breakthroughs
JioStar’s television network reached 830 million viewers, delivering more than 60 billion hours of watch time in the quarter. Its share of TV entertainment viewership rose 30 basis points year-over-year to 34.5%, bolstered by a mix of nostalgic programming and original releases.
The revival of the iconic Hindi soap “Kyunki Saas Bhi Kabhi Bahu Thi” made headlines, delivering record-breaking viewership across TV and digital platforms — the biggest general entertainment fiction launch in the past five years.
On the digital side, JioStar’s slate of original series, including “Special Ops 2,” “Sarzameen,” and “Heart Beat 2,” set new performance benchmarks on the platform and ranked among the top shows on third-party charts. Subscription growth was supported by a curated release calendar and a lifecycle strategy focused on user retention and engagement.
The company’s international content library continued to thrive, driven by increasing consumption of dubbed content across Indian languages, which helped broaden reach and deepen engagement.
Franchises and films drive continued growth
JioStar’s popular “Bigg Boss” reality franchise — adapted in Hindi, Malayalam, and Telugu — delivered a 55% year-over-year increase in digital watch-time. Meanwhile, the third installment in the “Jolly LLB” film series recorded strong box office performance, further strengthening the company’s presence across media formats.
For the earlier post-merger period covering November 14, 2024, to March 31, 2025, JioStar posted US$ 1.24 billion in revenue with EBITDA of US$ 87 million, reflecting a margin of 8.1%. These results marked the transition into unified operations following the completion of the merger.
A new era for India’s media ecosystem
With a commanding footprint across both digital and broadcast platforms, JioStar has quickly emerged as a leader in India’s fast-evolving media landscape. Its performance in the first full quarter post-merger underscores the combined entity’s scale, reach, and strategic clarity — setting the tone for future growth in both content and monetization.
As the company continues to expand across genres, formats, and geographies, its financial and audience metrics suggest that the merger has delivered immediate and measurable impact — a rare feat in the world of media consolidation.
