Disney + Hotstar’s revenues are up in 2020 thanks to the impact of Covid-19 and the IPL 2020-led push.
While the COVID-19 pandemic caused a massive loss to movie theaters and public events, streaming platforms have seen an exponential rise in the number of users. Novo Digital Entertainment, the parent company of Disney + Hotstar, has seen an increase in sales in fiscal 2020. In addition, the company’s net losses have also decreased over this period.
Novi Digital’s sales skyrocketed from Rs 1,123 crore in the previous year to Rs 1,628 crore in 2020, according to Tofler, a business intelligence platform. Also, the loss decreased from Rs 554.38 crore to Rs 361.8 crore despite the company’s cost increasing from Rs 1677 crore in 2019 to Rs 1990 crore.
According to Sanjog Gupta, head of Star Sports, the 2020 season of the Indian Premier League (IPL) witnessed record-breaking viewership. The Star Sports Network and Disney + Hotstar provided the live broadcast and livestreaming of the IPL 2020 season respectively. Numerous fans took to the video-on-demand platform to see live action from the T20 tournament, adding to the company’s bottom line. During the IPL cricket season, the platform has added approximately 7.5 million paying subscribers.
Additionally, with the launch of Disney + in India in partnership with Hotstar, the number of subscribers also increased. The subscriber base increase was also reflected in the revenues which skyrocketed to Rs 618.79 crore in 2019 from Rs 466.64 crore. operating expenses increased from Rs 969.63 crore to Rs 1383.30 crore in 2020.
With over 400 million downloads from Google’s Play Store and Apple’s App Store, Disney + Hostar remains one of the most popular apps in India. The live streaming of the 2021 IPL auction will also be made available through the Disney + Hotstar app and website.