Bob Iger Backs JioStar as Mukesh Ambani Unveils Google, Meta AI Deals

Disney CEO Bob Iger and Mukesh Ambani Highlight Rapid Rise of JioStar at Reliance AGM

Disney CEO Bob Iger joined Reliance Industries chair and MD Mukesh Ambani at the company’s annual general meeting in Mumbai on Friday to showcase the success of JioStar, the Reliance-Disney joint venture that has quickly become a dominant force in India’s media landscape.

The partnership between Reliance Industries and Disney was finalized last year, resulting in the creation of an Indian media powerhouse valued at $8.5 billion. The merger brought together Disney’s Star India with Reliance’s Viacom18 and streaming platforms JioCinema and Hotstar.

During the AGM, Iger praised the partnership, stating, “By combining Reliance’s digital reach, execution, and understanding of the Indian consumer with Disney’s extensive library of world-class storytelling and beloved IP, JioStar has emerged as a global leader in media and entertainment, boasting nearly 300 million paid subscribers.”

Ambani also lauded the creation of JioStar, describing it as a pivotal moment for India’s media ecosystem. He revealed that the platform now offers over 320,000 hours of content, surpassing its competitors by six-fold. JioHotstar, the merged JioCinema and Disney+ Hotstar service, attracted 600 million users within three months of its launch, with 300 million of them being paying subscribers. This achievement positions JioHotstar as the world’s second-largest streaming platform developed entirely in India. Additionally, Reliance holds a 34% share of the television market, equal to the combined share of the next three networks.

Furthermore, JioHotstar is introducing new AI-driven features such as RIYA, a voice-enabled search tool; Voice Print, which utilizes AI voice cloning and lip-sync technology for localized content; JioLenZ, offering customizable viewing modes; and MaxView 3.0, enhancing cricket coverage with multiple camera angles, instant highlights, and interactive scorecards.

Ambani also provided updates on Network18, highlighting the success of Moneycontrol Pro, which has surpassed one million paying subscribers, ranking it among the top 15 subscription news platforms globally. Firstpost achieved 400 million video views in May, becoming the most-viewed Indian English news channel on YouTube worldwide. CNN-News18 has led general news for three consecutive years, while CNBC-TV18 has maintained its leadership in business news for over two decades.

Aside from media content, Ambani announced the establishment of Reliance Intelligence, a new subsidiary aimed at promoting AI adoption across India. He also unveiled two significant global partnerships.

Reliance and Google Cloud will collaborate to create a dedicated AI cloud region in Jamnagar, powered by Reliance’s renewable energy and Jio’s network. Google CEO Sundar Pichai expressed excitement about the partnership, stating, “Our collaboration over the past decade has facilitated affordable internet access for millions of users. Now, we are leveraging this partnership to drive advancements in AI.”

In addition, Reliance has formed a joint venture with Meta, with a capitalization of approximately $100 million, to develop Llama-based enterprise AI solutions for India and selected international markets. Meta CEO Mark Zuckerberg commented on the joint venture, saying, “Through this collaboration, we will deploy Meta’s Llama models in practical applications, expanding Meta’s presence in the enterprise sector as we unlock new opportunities together.”