October 4, 2024, 12:11 PM IST – JioCinema, the video streaming platform owned by Mukesh Ambani’s Reliance Industries Ltd, has appointed Ishan Chatterjee as its new Chief Business Officer (CBO). Chatterjee’s appointment marks a strategic move by the platform as it continues to scale its digital offerings and strengthen its position in India’s highly competitive streaming market.
Chatterjee, who previously served as Managing Director at YouTube India, brings over two decades of industry experience, including a 13-year tenure at Google, where he played a pivotal role in YouTube’s expansion in India. He also has prior experience at McKinsey and Hindustan Unilever, and is an alumnus of The Wharton School and St. Stephen’s College.
In his new role, Chatterjee will be responsible for overseeing JioCinema’s monetization strategy, with a particular focus on driving revenue growth across sports and entertainment. His expertise will be vital in expanding the platform’s engagement with small and medium-sized businesses (SMBs). He will report directly to Kiran Mani, CEO of Viacom18 Media Pvt Ltd, and will play a key role in shaping the future of JioCinema.
JioCinema’s decision to bring Chatterjee on board reflects its commitment to delivering innovative and seamless digital experiences to its rapidly growing subscriber base. As of August, the platform surpassed 15 million paying subscribers, a milestone announced during Reliance’s 47th annual general meeting.
Earlier this year, JioCinema introduced new subscription plans, including the ₹29 per month Premium plan, offering ad-free content across multiple languages and genres, directly competing with global and local streaming platforms like Netflix, Disney+ Hotstar, and Amazon Prime Video. The platform also offers a family plan at ₹89 per month, allowing streaming on up to four devices, and a ₹999 annual plan, featuring a mix of ad-free Hollywood content and ad-supported local-language programming and sports.
Reliance’s media division, which includes JioCinema, generated over ₹10,000 crore ($1.2 billion) in revenue last year, reflecting a 49% increase. The rapid growth was largely driven by sports content, with Viacom18 posting a 62% increase in revenue, solidifying Reliance’s stronghold in India’s OTT market.
Chatterjee’s appointment signals JioCinema’s ambition to continue its upward trajectory, offering cutting-edge entertainment experiences to its users while enhancing its position as a key player in India’s digital streaming landscape.
