Walt Disney is reportedly exploring strategic options for its Star India business, which includes the Disney+ Hotstar streaming service and Star India TV channels. The company is considering a joint venture or a sale to address the decline in revenue and subscribers. Talks are still in the early stages, and no specific option has been decided upon yet. According to reports, Star India’s overall revenue for the fiscal year ending September 2023 is expected to drop by around 20% to less than $2 billion, and its earnings before interest, taxes, depreciation, and amortization are expected to fall by roughly 50%. The streaming service, Hotstar, is also projected to lose 8-10 million subscribers in its fiscal third quarter. Like many other companies in the streaming and media industry, Disney is implementing cost-cutting measures due to macroeconomic headwinds affecting advertising revenue and subscriber growth. In February, the company announced plans to cut 7,000 jobs as part of a restructuring effort to save $5.5 billion in costs. As of now, Disney has not responded to requests for comment regarding the potential strategic options for its Star India business. Walt Disney’s shares closed up 1.6% following the news.
