RIL's AGM focuses on success of JioTV+ and Reliance Retail expansion plans
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t the 47th Annual General Meeting (AGM) of Reliance Industries Limited (RIL), Akash Ambani, Chairman of Reliance Jio Infocomm Limited (RJIL), introduced JioTV+, a platform designed to unify all entertainment channels, on-demand shows, and streaming apps into one seamless experience.
"JioTV+ brings all your entertainment--live TV, on-demand shows, and apps--together in one easy-to-use platform. With JioTV+, you get access to over 860 live TV channels, with all leading channels in stunning High Definition, plus the best content from apps like Amazon Prime Video, Disney+, and Hotstar--all in one place. And we've optimized JioTV+ for a super-fast channel switching experience," said Akash Ambani.
Chairman and Managing Director of RIL, Mukesh Ambani, said the entertainment business of the group made phenomenal success. JioCinema, in the sports segment, has become a cornerstone of group's unit Viacom18's impressive growth.
"Viacom18, our entertainment arm, did even better. Driven by the Sports segment, it saw a remarkable growth of 62 per cent. JioCinema is revolutionising digital Sports and Entertainment. In a short time, it has reached major milestones."
Ambani said, "The second season of IPL on JioCinema was a huge success. It reached 62 crore Indians. That is a 38% increase over the previous season. Total viewership grew by 50 per cent. This made it the most-watched livestream event in the world. This success continued during the Olympics."
Mukesh Ambani then talked about a new subscription pack for JioCinema that has already taken the market by storm.
"JioCinema's new subscription pack is a game-changer. It offers OTT originals, reality shows, blockbuster movies, and top content from HBO, Paramount, and NBCU. In just 100 days, JioCinema crossed 15 million paying subscribers. This is the fastest growth in this category," he said.
Talking about group's retail business, Isha Ambani, Director of Reliance Retail Ventures, outlined ambitious plans to double the retail business over next 3-4 years.
"With the strong foundation we have built, I am confident that we will achieve our goal of doubling our Retail business in the next 3 to 4 years," she stated.
Isha highlighted the expansion of the 7-Eleven convenience store chains in India.
"We are also establishing 7-Eleven as a leading 24x7 convenience destination, offering localised fresh food and beverages tailored to the Indian palate," said Isha Ambani.
She emphasized the expansion of Reliance's omni-channel strategy. "We are building our presence through an omni-channel strategy across multiple formats, like Tira, Sephora, Kiko Milano, and Blushlace. We are also enhancing our beauty and personal care offerings across our existing formats--grocery, fashion, and pharma--both online and offline. Our investment in Insight Cosmetics is enabling us to create our own brand portfolio," said Isha Ambani.She also talked about the strategic acquisition of Metro India Cash and Carry, which has bolstered Reliance's capabilities in the new commerce segment.
"With the acquisition of Metro India Cash & Carry, we have strengthened our omni-channel capabilities, offering a wider assortment for our kirana and HoReCa partners. We are delighted to have over 4 million registered kirana partners in our new commerce business, supported by a footprint of over 220 Metro stores across 200 cities," said Isha
✔️ RIL's AGM focuses on success of JioTV+ and Reliance Retail expansion plans
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