Disney’s India JV Loss Narrows as JioStar Revenue Reaches ₹30,819 Crore in FY26

As per an Economic Times news report, Walt Disney’s loss from its Indian joint venture fell to $44 million in the quarter ended 27 June, compared with $50 million a year earlier. The decline came as losses at the joint venture reduced. 

For the nine months ended 27 June, Disney reported a $136 million loss from the venture, against $186 million in the year-ago period. Disney said the reduced loss contributed to an increase in equity income from investees. 

JioStar’s FY26 Numbers 

The joint venture, JioStar, reported revenue from operations of ₹30,819 crore in FY26, up 46.5% from ₹21,044 crore in FY25. Profit after tax rose to ₹3,145 crore from ₹18 crore a year earlier. 

JioStar was formed in November 2024 after Disney combined its Star television channels, other general entertainment and sports channels, and Disney+ Hotstar with Reliance-controlled Viacom18. 

Reliance Industries owns 56% of JioStar, Disney holds 37%, and Bodhi Tree Systems owns the remaining 7%. 

Sports Contract Provision Reduced 

JioStar’s provision for onerous sports contracts fell to ₹17,742 crore at the end of FY26 from ₹25,760 crore in the previous year. It used ₹8,018 crore from the provision during the year and made no fresh provision. 

The company said some sports-event contracts remain onerous because expected customer revenue is likely to be lower than the costs of those events. The provision has been made for expected future losses. 

Tata Play Loss Widens 

Disney’s India-related results in the previous year also included impairment and restructuring charges. For the nine months ended 28 June 2025, it reported $185 million in such charges, mainly related to an impairment of its investment in Tata Play. 

It also recorded a $143 million impairment of goodwill related to Star India and $109 million in content impairments. Tata Play, owned 70:30 by Tata Sons and Disney, reported a net loss of ₹551 crore in FY26, against ₹529 crore a year earlier.  

Revenue fell 13.5% to ₹3,530 crore from ₹4,082 crore. 

Read More: India’s Credit Card Spending Growth Moderates in July 2026, SBI Cards Up 22% YoY! 

Conclusion 

Disney’s loss from its India joint venture narrowed during the period as JioStar reported higher revenue and profit. The improvement came alongside a reduction in the provision for loss-making sports contracts. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.   
 
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.