Paramount, 13% stake in JioCinema, may drop streaming plans in India

Now there is a big chance that Paramount who is the stakeholder in JioCinema’s parent company Viacom 19, is now going to drop streaming plans in India. This is really shocking news in the world of entertainment and business. Sources say that Paramount Global is now going to scrap the plans to launch the Paramount streaming service in India in 2023. It is going to happen in the favor of a deal with their current partners. This is really a familiar strategy by the Paramount organization. Now read this article till the end to know everything about this decision of Paramount.

Paramount

According to the source, paramount Global is now planning to scrap the plans to launch its Paramount streaming service in India. It is going to happen this year because of their deal with the current partners. As we all know Paramount owns a 13% stake in JioCinema’s parent company Viacom 18, which is a television channel operator. Sources reveal the New York-based parent of the MTV and CBS networks is now changing their mind and shifting their focus to sell their program to the Indian streaming service JioCinema. Till the company has not given a statement, they have clearly declined to comment on this topic. Scroll down to know more.

According to the source, the delay is part of a large trend for the big media companies as they deal back on their spending and also in the expansion of international plans. It happens as it clearly shows to wring profits from the streaming businesses which have faced a lot of loss. Currently, the ratings and viewership of television programs are going down as the streaming platforms are growing every single day. At this time, people in the entire world love to watch series on streaming platforms not on television programs. Continue reading.

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The executive director of the research firm Ampere Analysis, Guy Bisson said, They are in a short pullback situation right now to appease the Wall Street, And especially for the studios which are currently managing the decline in controlling of other business lines. The big company Warner Bors. has now agreed to license the films and HBO shows in India to JioCinema, this is really a great deal by makers. Some time ago the official Warner Bros. Discovery Inc. claimed that now Wall Street is the streaming business which is now going to be profitable in 2023. This year JioCineman has been licensed for programming from the Comcast Corporation NBC Universal which is going to cost people Rs. 999 annually.

Prakash Israni
Prakash Israni

Prakash, the content creator for Techballad, has built a solid reputation for himself over the course of more than ten years of blogging