Ahead of the ICC Men’s T20 World Cup in 2026, Reliance Industries‘ JioHotstar has decided to exit its four-year India media-rights deal with the ICC due to huge financial losses. The remaining two years of the contract will no longer be operated by JioHotstar. The ICC has now started a fresh process to sell India media rights for 2026-29, expecting around $2.4 billion.
JioHotstar Quits ICC Streaming Deal
They has more than doubled its expected losses on sports contracts in 2024-25 to Rs 25,760 crore, up from Rs 12,319 crore the previous year. The company spent heavily on long-term sports rights, which are now proving more expensive than the revenue earned. With India contributing nearly 80% of ICC revenues, finding a new broadcaster is challenging. Sony, Netflix, and Prime Video have shown limited interest due to high pricing.
