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Flipkart plans to acquire stake in Hotstar

Walmart-owned Flipkart is in talks to acquire a stake in Hotstar, Star India’s video streaming service.
BY BEx Bureau
BusinessEx
Sep 18, 2018

Walmart-owned Flipkart is in talks to acquire a stake in Hotstar, Star India's video streaming service.

Flipkarts talks with Hotstar come at a time when demand for video streaming services such as Netflix and Amazon Prime Video is high in India.

Launched in the country in 2015, Hotstar is owned by Twenty-First Century Fox's Star India unit. It is providing premium content like HBO's "Game of Thrones" and live-streaming of popular Indian Premier League cricket for an annual subscription of Rs 999.

Flipkart had earlier worked with Hotstar when it launched a new video advertisement platform in July. Hotstar is also one of the many Internet partners for Flipkart Plus, the company's customer loyalty programme.

About 77% of Flipkart was acquired by Walmart for nearly $16 billion. It was the largest-ever deal made by the US retail giant.

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