The merger between Reliance’s media operations and Disney’s India business was always going to be judged on what it produced commercially, not just what it promised structurally. Those results are now in. According to multiple reports, JioStar closed the financial year 2025-26 with gross revenue of ₹36,248 crore (approx. US$4B) and an annual profit after tax of ₹3,210 crore (approx. US$341.5M) — figures that confirm the combined entity has moved decisively beyond the integration phase and into a period of sustained commercial output.
A quarterly result that reflects a year of momentum
The March quarter crystallised what had been building across the full year. Gross revenue for Q4 came in at ₹9,784 crore (approx. US$1B), representing a 22.15 percent increase over the ₹8,010 crore (approx. US$852M) recorded in the previous quarter, with revenue from operations reaching ₹8,372 crore (approx. US$890.6M), up 21 percent quarter-on-quarter. EBITDA for the period stood at ₹827 crore (approx. US$88M), while profit after tax for the March quarter reached ₹419 crore (approx. US$44.6M). The trajectory across all four quarters establishes JioStar not as a business riding a single event cycle, but as one that has built durable commercial infrastructure across both its digital and television arms.
What cricket contributed — and how
India’s appetite for cricket did not simply support JioStar’s numbers — it stress-tested the platform at a scale no other media business in the country has faced and confirmed it could deliver. The ICC Men’s T20 World Cup 2026 and beginning of the TATA IPL 2026 between them generated record-breaking viewership across every surface JioStar operates on. The World Cup final produced a global peak concurrency of 72.5 million on JioHotstar, a record that redefined what live streaming infrastructure is capable of at international scale. IPL 2026 extended that story further — digital reach across the tournament grew 15 percent year-on-year, Connected TV reach expanded by 27 percent, and the competition’s opening weekend alone drew 515 million viewers across the platform.
The television side of a digital story
Linear television remains a foundational pillar of JioStar’s reach in a market where screen penetration continues to evolve unevenly. The network held a 34.2 percent share of television entertainment viewership during the quarter, reaching more than 810 million viewers nationwide — a number that situates JioStar not merely as a streaming business but as the dominant force across India’s entire media consumption landscape. By the close of the financial year, that linear TV share had reached 34.7 percent, reflecting consistent audience retention despite the accelerating shift towards digital consumption that the company is simultaneously leading.
Digital scale built on more than sport
JioHotstar averaged 500 million monthly active users during the March quarter, with direct-to-consumer subscriptions reaching an all-time high supported by new pricing structures designed to broaden affordability. The platform expanded its product capability during the period, introducing conversational content discovery powered by artificial intelligence alongside in-app commerce integrations covering food ordering and shopping — developments that position JioHotstar as a transactional ecosystem rather than a content-only destination. Digital advertising revenue across sports and entertainment reached new heights through the year, even as reduced FMCG spending created headwinds for traditional television advertising, reflecting the structural shift in where brand investment is flowing.
Entertainment and film add further dimension
Cricket anchored the growth story, but JioStar’s entertainment and film operations contributed meaningfully to the year’s commercial performance. The Dhurandhar franchise, produced by Jio Studios, saw both instalments cross ₹1,000 crore (approx. US$106.4M) globally, with the film recording the highest overseas box office collections of any Bollywood release. The network maintained its leadership position across key entertainment genres and regional language markets, reinforcing the breadth of a content operation that extends well beyond sport.
What the numbers actually mean for the market
JioStar enters the next financial year as something the Indian media industry has not previously had — a single entity with simultaneous dominance across streaming, linear television, live sport, film production, and digital commerce. The 2025-26 results do not simply reflect a strong year; they establish the commercial baseline from which a business of this scale and structural advantage will be measured going forward.
