Cricket World Cup Costs Disney India Sports a Rs 2613 Crore Loss

Disney India Sports : The grandeur of the 2023 Cricket World Cup enthralled fans worldwide, but behind the scenes, Walt Disney’s India sports business faced a formidable challenge. Despite the gripping matches and soaring viewership, the financial scoreboard tells a different tale. Disney India Sports disclosed a staggering operating loss of $315 million (Rs 2613 crore) for the quarter ending December 2023, marking a significant surge of 144% compared to the previous year.

image 80 82 jpg Cricket World Cup Costs Disney India Sports a Rs 2613 Crore Loss

Let’s have a look into more details : Cricket World Cup Costs Disney India Sports

The primary driver behind this colossal loss was the exorbitant costs associated with hosting the prestigious cricketing event. Star India, Disney’s sports arm in the country, witnessed a remarkable 71% surge in sports revenue attributed to the World Cup. However, the increased expenses in programming, production, and rights overshadowed these gains. The elevated average costs per match and the extensive coverage of matches further exacerbated the financial strain.

image 80 83 jpg Cricket World Cup Costs Disney India Sports a Rs 2613 Crore Loss

Cricket World Cup Costs Disney India Sports: A Rs 2613 Crore Loss

Despite the financial setback, there were glimpses of optimism amidst the adversity. Advertising revenue experienced growth, buoyed by heightened viewership and increased ad units sold, albeit with a slight dip in ad rates. Moreover, Disney+ Hotstar, Star India’s streaming service, witnessed a modest expansion in its subscriber base and a notable rise in average revenue per user, driven by various factors including price adjustments and enhanced ad revenue.

This loss underscores the formidable challenges Disney faces in its Indian sports business landscape. While cricket reigns supreme in popularity, the substantial expenses incurred in acquiring broadcast rights and orchestrating large-scale events like the World Cup pose significant hurdles to profitability.

image 80 84 Cricket World Cup Costs Disney India Sports a Rs 2613 Crore Loss

Cricket World Cup Costs Disney India Sports: A Rs 2613 Crore Loss

On a global scale, Disney’s sports business, encompassing ESPN and Star Sports, witnessed a modest 4% revenue growth, albeit with a notable 37% decrease in operating loss. This emphasizes the substantial impact of India’s loss on the overall performance of the sports segment.

Looking ahead, Disney remains resolute in its pursuit of profitability, particularly in the streaming domain. Despite encountering minor setbacks such as a dip in Disney+ subscribers and a pricing adjustment, the company remains optimistic about sustained growth in its parks division.

image 81 13 jpg Cricket World Cup Costs Disney India Sports a Rs 2613 Crore Loss

Cricket World Cup Costs Disney India Sports: A Rs 2613 Crore Loss

While the 2023 Cricket World Cup captivated Indian fans with its exhilarating moments, it came at a significant cost to Disney’s sports business in the country. Balancing the fervent passion for cricket with the financial realities of managing such high profile events presents an ongoing challenge for the entertainment giant.

Read more : IND vs ENG: Team India’s Squad for the final three Tests against England announced

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

More like this

Highest individual scores in World Cups

Top 5 Highest individual scores in World Cup history

Top 5 Highest individual scores in World Cups: The Cricket World Cup has witnessed some incredible individual...
Biggest Sixes of the Cricket World Cup 2023

Top 5 Biggest Sixes in the Cricket World Cup...

Biggest Sixes in the Cricket World Cup 2023: The ICC Cricket World Cup 2023 has been a...
Glenn Maxwell

Glenn Maxwell’s Meteoric Century Sets a New World Record...

In a cricketing spectacle that will be etched in the annals of history, Glenn Maxwell, Australia's star...

Celebrating Cricket World Cup Mascots: A Journey from 1992...

The Cricket World Cup, a premier event in the world of cricket, has not only witnessed thrilling...
The best deals on ACER Google TV To Experience The Cricket World Cup

The best deals on ACER Google TV To Experience...

Brace yourselves for the cricket World Cup season, and get ready to witness the magic on your...

LATEST NEWS

Xiaomi 15 Ultra to Launch Globally on March 2: Leaks Reveal Details

Xiaomi India has confirmed that the Xiaomi 15 Ultra will launch in India on March 2nd, coinciding with its global unveiling. The global release...

HP Victus 15 with Ryzen 9 8945HS & RTX 4060 Launched in India

HP has launched the Victus 15 gaming laptop in India, which is integrated with advanced AI capabilities by packing the AMD Ryzen 8945HS processor...

WATCH Aashiqui 3 First Look: Kartik Aaryan, Sreeleela in Anurag Basu’s Romantic Love Story

The first look of Aashiqui 3, starring Kartik Aaryan and Sreeleela, has finally been unveiled! Fans got their first glimpse of the romantic drama...

Realme Neo 7 SE to Launch Under 2,000 Yuan, Competes with Redmi

Realme had recently launched the Realme GT 7 Pro Racing Edition in China, but before it was even released, the company announced that in...

Featured