Star Pumps Rs 1,233 cr Into Hotstar, as Competition Heats Up
Star Pumps Rs 1,233 cr Into Hotstar, as Competition Heats Up
 07 September 2017

STAR India, a media company backed by Twenty-First Century Fox, has injected Rs 1,233 crore ($192.04 million) into its content arm over the last six months amid intense among online video providers in  

Through a rights issue, STAR infused the money in Novi Entertainment, which runs streaming video platform and, regulatory filings showed. STAR on Tuesday won the television and rights for Indian Premier League cricket for the next five years with a staggering $2.55-billion bid.  India’s 

$20-billion media and entertainment industry is in the middle of an intensifying war for content between global firms such as, Netflix Inc and and a host of home-grown players.

Facebook Inc is also keen to jump on the bandwagon. The company was one of the bidders for IPL's rights, along with other domestic players such as telecom operators Bharti Airtel Ltd and Reliance Jio.

Hotstar, is the market leader among India's over-the-top platforms when measured by active subscribers, and holds exclusive Indian rights to stream many hit sitcoms from the U.S. TV channel operator HBO, including "Game of Thrones".

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