Disney Finally Ready To Abandon Streaming, Sell to Competitors

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Sad Mickey Mouse walking away from the Disney+ logo

Credit: Inside the Magic

The Walt Disney Company is reported to finally be ready to give up competing in the streaming market and sell to its largest competitor.

Mickey Mouse as a conductor looking exhausted.
Credit: Disney

For months, Disney has been struggling to keep its cash flow solvent as multiple major films crash and burn in theaters, subscribers drop like flies, Walt Disney World and Disneyland lose customers every day, and the streaming market steadily loses ground to broadcast television. Analysts have calculated that the company may have lost nearly a billion dollars in just the last year.

It should not be that surprising that the company is looking to minimize its losses in the streaming market, a field dominated by its arch-rival Netflix.

Related: Everything You Need to Know: Disney+ Account Sharing FAQ

Disney Sale Rumors

It has been heavily speculated that Disney has been looking to offload its streaming assets, including the Disney+ Hotstar platform in India, the single largest subscriber base in the entire world. Doing so would essentially surrender nearly a billion and a half potential paying customers to Netflix, but Disney has already been losing the battle for some time.

Reportedly, the company was considering selling its assets in India to Blackstone, a company notoriously allegedly involved in child labor violations in the United States in the last year alone,  but now it seems there is a new player in town, and things are moving very fast.

Reliance Industries and Mukesh Ambani

According to a new report from Bloomberg News, the Walt Disney Company is in late-stage talks to sell its entire operation in India to Reliance Industries, including its valuable Disney Star content.

The logo for Reliance Industries
Credit: Reliance Industries

While Reliance may not be a household name in America, it is the single most powerful company in India, with interests in everything from industrial petrochemicals to retail supermarkets to entertainment media. It is currently run by controversial billionaire Mukesh Ambani, the richest man in all of Asia.

Notably, Reliance already made a deal with Warner Bros. Discovery (another streaming rival) to broadcast HBO/Max shows in India, locking down one of the most popular content libraries in the world. Additionally, the company secured the rights to stream the massively popular Indian Premier League in 2022, ensuring a viewing audience of hundreds of millions of viewers for that alone.

Related: As Disney Promises $60 Billion, Fans Blast Company for “Empty Promises”

Disney Star Billions

While neither company has commented on the potential sale, it is reported by insiders that the deal could close as early as next month.

According to the House of Mouse itself, Disney Star assets are worth some $10 billion, making it a huge purchase for the Indian company. Reliance reportedly claims it is something more in the range of $7 billion, a multi-billionaire discrepancy that is likely slowing down the negotiations.

Netflix logo with Mickey Mouse
Credit: Inside the Magic

If the company does manage to close the deal and sell Hotstar to Reliance, it is a huge sign that the company is potentially losing faith in its ability to compete with Netflix and Max.

Is Disney failing to compete with its streaming competition? Tell us your thoughts in the comments below!

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