Posted 3/14/2024, 9:50:27 PM
US Media Giants Retreat from Booming but Challenging Indian Market
- US media giants like Paramount and Disney are pulling back from India due to profitability challenges and competition from local rivals
- India's entertainment industry is booming, but monetization efforts are stalling for US companies
- Paramount sold its stake in Viacom18 to raise cash and strengthen its balance sheet
- Disney struggled in India after losing cricket broadcasting rights, leading to falling subscribers and revenue
- While India's media sector is growing, now may not be the right time for foreign companies to invest due to various domestic and global economic challenges