JioStar to Invest Over $10 Billion in Content, Surpassing YouTube’s India Spend
At WAVES 2025, Uday Shankar, Vice Chairman of JioStar, joined Vivek Couto from Media Partners Asia for a fireside chat titled “Media in India: Past 25 Years and Journey Ahead – to 2047.” They discussed how India’s media industry has evolved and where it’s headed.
Shankar reflected on the impressive growth of Indian television and video over the last three decades. He credited the early satellite TV boom in the '90s for making television affordable and widely accessible, helping millions adopt the medium quicklymuch faster than in developed countries.
Couto highlighted how the government's support, such as FDI reforms, helped drive this growth. He noted how platforms like Hotstar and Jio’s 4G revolution made streaming accessible across the country. He asked whether content creation has kept up with this reach.
Shankar said it's still early for Indian streaming. While sports content has grown significantly, many areas still lag. He criticized the overuse of global content models in India and called for more original, local storytelling that reflects Indian culture and can travel internationally.
Couto pointed out that India’s screen industry is now worth $30 billion, a huge jump from $500 million three decades ago. He asked what could drive growth over the next 15 years.
Shankar listed three key factors: more customized content for Indian audiences, wider access through broadband and telecom, and stronger creative infrastructure with better support for writers, directors, and actors. He stressed that Indian consumers are ahead of producers and that gap must be closed.
They also discussed the dip in North Indian cinema, especially Hindi films. Shankar blamed outdated creative approaches and a lack of new talent. He praised Southern industries like Telugu and Tamil cinema for showing strong creative and economic growth. He also noted the need for more movie screens and affordable access to theaters.
When asked about YouTube’s investment in India, Shankar didn’t give exact financials but confirmed that JioStar would spend over $10 billion (around Rs. 85,000 crore) on content from 2024 to 2026far more than YouTube’s $2.53 billion.
On the merger impact and performance, Shankar said the growth in both Pay TV and streaming has been “spectacular,” proving that India still has room to grow if content and pricing are done right. He also criticized the lack of innovation in how media companies make money, saying new models are needed beyond just ads and subscriptions.
Looking ahead, Shankar believes the next five years could see huge growth if companies focus on India-specific innovation. He thinks a major Indian media company could go globallike Netflix or Tencentif it finds a unique way to monetize content.
On regulations, Shankar warned that treating TV and digital platforms the same is a mistake. They are at different stages and need different rules to grow properly.
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