Network18 & TV18 Share Price today – On January 10, Network18 Media & Investments received a significant boost in its shares, rising by 20% to reach a 52-week high of Rs 119.40. This increase was attributed to a large deal worth Rs 155.50 crore. However, the specific buyers and sellers involved in this transaction remain unknown. Approximately 1.3 crore shares, equivalent to 1.3% equity, were traded on that day.
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JioCinema App – part of Viacom18
TV18 Broadcast has announced that the JioCinema app is now a part of the Viacom18 portfolio. Additionally, Viacom18 has successfully concluded a transaction for a strategic partnership with Bodhi Tree Systems. Bodhi Tree Systems is a platform associated with James Murdoch’s Lupa Systems and Uday Shankar, former Chairman of Star and Disney India.
This integration of the JioCinema app into Viacom18 is seen as a strategic move that positions the company to play a significant role in India’s shift towards prioritizing streaming services.
Network18 Share : will IPL 2024 give it a boost?
JioCinema, introduced in September 2016, offers a variety of content such as movies, web series, music videos, TV shows, documentaries, and sports. Notably, JioCinema is currently providing free streaming of IPL games.
The anticipation of the 2024 IPL coming to JioCinema could be on the minds of stock market investors. This is because everyone is aware of the financial success associated with the IPL, and it’s possible that in the upcoming times, this expectation might contribute to a positive trend in the stock. Currently, the stock has returned to a 52-year high. Investors are hopeful that the prospect of the IPL, known for its lucrative opportunities, could further boost the positive momentum in the stock.
Success of JioCinema App during IPL-2023
The event was available to viewers in the 12 most commonly spoken languages in India, such as Gujarati, Bhojpuri, Punjabi, and Oriya. JioCinema has achieved a significant milestone with over 25 million downloads, setting a record for the most installed app in a single day. Moreover, during the opening weekend, the app was downloaded more than 50 million times.
It’s expected that the excitement of the IPL will be available for viewing on JioCinema this year as well. However, it cannot be confirmed whether customers will be able to watch all matches on the app for free or if a subscription will be required. Details about this are likely to be announced in the coming days.
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