Disney Star’s sports segment saw its operating loss balloon 144% to $315 million (Rs 2,583 crore) as of December 2023 from $129 million (Rs 1,057 crore) in the year-ago quarter.

Disney Star’s sports segment saw its operating loss balloon 144% to $315 million (Rs 2,583 crore) as of December 2023 from $129 million (Rs 1,057 crore) in the year-ago quarter on account of higher rights costs from airing of the ICC Cricket World Cup, as per The Walt Disney Company’s quarterly results declared on Thursday.

India was the exclusive host of the 2023 edition of the ICC Cricket World Cup in which 10 teams played 48 matches between October 5 and November 19, 2023. Disney Star, which held the ICC TV and digital media rights till 2023, broadcast the matches on its Star network of channels.  It also streamed the matches for free on its Disney+ Hotstar app to compete with Reliance Industries-backed JioCinema which streamed the IPL cricket matches for free in 2023.

As per the company’s first quarter results, Star India’s revenue in the sports segment rose 71% to $399 million during October-December 2023 from $233 million in the year-ago quarter, but its operating loss zoomed to $315 million from $129 million during the period.