JioCinema ropes in YouTube's Ishan Chatterjee to lead business growth
What's the story
JioCinema, the video streaming platform owned by Reliance Industries, has announced the appointment of Ishan Chatterjee as its new chief business officer. This strategic move signifies JioCinema's ongoing efforts to enhance its digital services. Previously serving as the managing director at YouTube India, Chatterjee will now lead JioCinema's overall monetization strategy.
Leadership responsibilities
Chatterjee's role and experience
In his new role at JioCinema, Chatterjee will focus on expanding revenue streams across sports and entertainment sectors, with special emphasis on small and medium-sized businesses (SMBs). He will report to Kiran Mani, the CEO of Viacom18 Media Pvt Ltd. Chatterjee brings with him over 20 years of industry experience, including a significant tenure at Google where he played a key role in YouTube's growth in India.
Subscriber base
JioCinema's growth and new subscription plans
JioCinema has recently crossed the milestone of 15 million paying subscribers, as disclosed by Reliance at its 47th annual general meeting in August. To attract more users, the platform rolled out new subscription plans in April. The JioCinema Premium plan, priced at ₹29 per month, offers ad-free content in multiple languages on any device. This initiative is seen as a direct challenge to global OTT platforms like Netflix and Amazon Prime Video.
Plan details
JioCinema's family and annual plans
In addition to its premium plan, JioCinema also offers a family plan for ₹89 per month that allows streaming on up to four devices simultaneously. Last year, the platform introduced an annual plan priced at ₹999. This package includes ad-free Hollywood content along with ad-supported local-language programming and sports, further strengthening JioCinema's position in India's competitive OTT market.
Financial performance
Reliance's media division and JioCinema's revenue growth
Reliance's media division, which includes JioCinema, generated over ₹10,000 crore in revenue last year, marking a significant 49% increase. Viacom18, the entertainment arm of the company, reported a robust growth of 62%, largely driven by its sports content. This performance underscores the company's strong position in India's OTT space.