Walt Disney Co. has reported a $300 million equity loss in the first half of FY25 from its joint venture with Reliance Industries in India. The loss is attributed to purchase accounting amortization after the formation of the JioStar JV, which combined Disney’s Star India and Hotstar with Reliance’s media and entertainment assets.
As part of the deal, Disney now holds a 37% minority stake and no longer consolidates Star India’s financials, shifting its reporting to equity income. Despite this financial setback, Disney’s overall revenue rose 7% year-over-year to $23.6 billion in Q2 FY25, with growth seen across its entertainment and linear network segments.
The move is part of Disney’s broader strategy to strengthen its position in India’s competitive media landscape by leveraging Reliance’s reach and operational scale. The company remains optimistic about long-term opportunities in the region, even as short-term financials take a hit.
Key Takeaway:
Disney’s $300M equity loss from its India JV with Reliance reflects strategic repositioning, trading short-term impact for long-term dominance in one of the world’s fastest-growing media markets.