Could ZEE5 be Reliance’s foray into OTT? As Indians consume more vernacular content, ZEE’s production, entertainment, distribution and news capabilities seem to interest RIL.
Sources close to the Indian Telecom Operator have suggested that Jio is looking to enter the booming Indian OTT market. While top GEC players in the Indian markets have built global partnerships, ZEE5 seems to be the homegrown success that Mukesh Ambani’s RIL is interested in.
More news is awaited on this development. However, there have been indications in the past that JIO would look at ZEE5 as its step into the OTT market.
ZEEL had acquired Anil Ambani’s entertainment businesses in 2017. Could this be the coming back home of consumer entertainment for RIL? RIL has over the last one year seen several global investments. From Google, Facebook to KKR, Silver Lakes and others, JIO has been a hot spot for money from around the globe.
While ZEEL has been struggling in the past one year, the upturn post pandemic has increased media prospects. Moreover, with OTT platforms looking to bypass theaters as the primary entertainment option of a growing middle class, JIO’s push into OTT can’t come at a more opportune time.
At the time of writing, ZEEL was trading at 206.40 on the national stock exchange. This was up 0.24% from previous close. RIL was trading at 2083.65, down a percentage from previous close.