{"id":4391,"date":"2023-10-31T08:55:00","date_gmt":"2023-10-31T08:55:00","guid":{"rendered":"https:\/\/entrepreneurmirror.com\/?p=4391"},"modified":"2023-10-31T08:55:00","modified_gmt":"2023-10-31T08:55:00","slug":"disney-stars-profit-declines-by-31","status":"publish","type":"post","link":"https:\/\/entrepreneurmirror.com\/staging-site\/2023\/10\/31\/disney-stars-profit-declines-by-31\/","title":{"rendered":"Disney Star&#8217;s Profit Declines by 31% Amidst Rising Competition"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Star India, a subsidiary of Walt Disney, reported a 31% decrease in its consolidated net profit for FY23, amounting to \u20b91,272 crore, down from \u20b91,834 crore in the previous fiscal year. This information was made public in the financial statement submitted to the Registrar of Companies (RoC).<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">However, the company witnessed a 9% growth in its total income, reaching \u20b920,699 crore in FY23, up from \u20b919,058 crore in FY22.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Challenges arose as Walt Disney&#8217;s sports segment in India posted an operating loss of \u20b93,703 crore in the nine months leading up to July 1, despite generating revenues of \u20b95,313 crore. This setback is attributed to the intensifying rivalry between Hotstar and Jio Cinema, especially concerning the acquisition rights for major cricket events like the IPL.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Furthermore, <a href=\"https:\/\/www.mmaglobal.com\/members\/novi-digital-entertainment-pvt-ltd-hotstar\" target=\"_blank\" rel=\"nofollow noopener\">Novi Digital Entertainment<\/a>, the entity behind Disney+ Hotstar, experienced a net loss increase of 118%, settling at \u20b9748 crore, compared to \u20b9343 crore the previous year. On a brighter note, their revenue surged by 35%, reaching \u20b94,341 crore.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">In light of these developments, Disney is reportedly in advanced talks with Reliance about selling its streaming operations to Viacon18. Insiders suggest that an official announcement regarding this potential deal might be on the horizon.<\/span><\/p>\n<p><em><strong>Also Read:<\/strong><\/em><\/p>\n<ul>\n<li><a href=\"https:\/\/entrepreneurmirror.com\/staging-site\/the-importance-of-business-agility\/\" target=\"_blank\" rel=\"noopener\">The Importance of Business Agility: Adapting to Rapid Market Changes<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Star India, a subsidiary of Walt Disney, reported a 31% decrease in its consolidated net profit for FY23, amounting to \u20b91,272 crore, down from \u20b91,834 crore in the previous fiscal year. This information was made public in the financial statement submitted to the Registrar of Companies (RoC). However, the company witnessed a 9% growth in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[283],"class_list":["post-4391","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-disney-stars"],"_links":{"self":[{"href":"https:\/\/entrepreneurmirror.com\/staging-site\/wp-json\/wp\/v2\/posts\/4391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entrepreneurmirror.com\/staging-site\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entrepreneurmirror.com\/staging-site\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entrepreneurmirror.com\/staging-site\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/entrepreneurmirror.com\/staging-site\/wp-json\/wp\/v2\/comments?post=4391"}],"version-history":[{"count":0,"href":"https:\/\/entrepreneurmirror.com\/staging-site\/wp-json\/wp\/v2\/posts\/4391\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entrepreneurmirror.com\/staging-site\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/entrepreneurmirror.com\/staging-site\/wp-json\/wp\/v2\/media?parent=4391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entrepreneurmirror.com\/staging-site\/wp-json\/wp\/v2\/categories?post=4391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entrepreneurmirror.com\/staging-site\/wp-json\/wp\/v2\/tags?post=4391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}