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Reliance Industries, spearheaded by billionaire Mukesh Ambani, has just unveiled some impressive financial results from its media and entertainment segment, JioStar, for the quarter ending June 30. What’s driving this success? The standout performance is largely thanks to the exceptional digital and television viewership captured during the Indian Premier League (IPL) cricket tournament, which kicked off the company’s fiscal year 2025–26 with a bang.
A Deep Dive into Financial Performance
In the latest quarter, JioStar reported revenues of INR 11,222 crore (around $1.3 billion), marking a healthy increase from the INR 11,032 crore ($1.28 billion) seen previously. But that’s not all—the company also saw a notable jump in EBITDA, soaring to INR 1,017 crore ($118.1 million) from INR 774 crore ($89.9 million).
This resulted in a more robust margin of 10.6%, up from 8.1%.
This growth isn’t just a stroke of luck; it reflects a solid operational foundation and a savvy strategy of harnessing high-demand events like the IPL to bolster market presence.
The IPL has become a real game changer, driving viewer engagement and showcasing impressive increases in both active users and viewership metrics throughout the tournament.
Viewer Engagement and Digital Expansion
JioHotstar, Reliance’s flagship streaming service, averaged over 460 million monthly active users this quarter, with total Android downloads exceeding 1.04 billion.
The IPL 2025 was integral to this surge, with JioHotstar alone attracting a staggering 652 million viewers—a remarkable 28% jump year-on-year. Did you catch the IPL final? It peaked at 55.2 million concurrent viewers, making it the most-watched T20 match ever on a digital platform!
And it’s not just digital that’s thriving; traditional television viewership also saw a significant uptick.
JioStar’s network reached over 800 million people, claiming a 35.5% share of entertainment viewership. Star Plus continued to reign supreme as the leading Hindi-language entertainment channel, featuring six of the top ten shows this quarter. Regional channels like Star Pravah, Star Jalsha, Star Maa, and Asianet are also holding their ground and dominating their respective markets.
Content Highlights and What Lies Ahead
On the content side, JioHotstar recorded its highest-ever monthly watch time in June, with the series “Criminal Justice” emerging as the standout streaming original for 2025, according to Ormax Media. The platform also celebrated the success of “Kesari 2,” which became the most-watched Indian film of the year. Plus, international titles are making waves, with “Mufasa: The Lion King” recognized as JioHotstar’s most-viewed international title to date.
In a strategic move, Reliance secured exclusive digital rights for India’s ongoing five-Test cricket series against England, further enriching its already impressive sports portfolio that includes major events like the ICC World Test Championship Final. This signals Reliance’s commitment to broadening its offerings across diverse genres and formats.
Profit after tax for the quarter has more than doubled, jumping to $67.4 million from $26.6 million. Operating revenue reached an impressive $1.11 billion, while depreciation and finance costs stood at $36.7 million and $13.7 million, respectively. Ambani has expressed strong confidence in the media business’s upward trajectory, stating that it has evolved into a comprehensive platform for entertainment, sports, and news content.
As Reliance Industries continues to innovate and expand its media offerings, the future appears bright. By prioritizing viewer experience and engagement, the company is set to maintain its competitive edge in the dynamic world of media and entertainment. So, what exciting content can we look forward to next? Stay tuned!
