JioHotstar, the merged streaming giant from Reliance's Jio and Disney's Star India, is seeking an early exit from its $3 billion four-year ICC media rights deal for India, creating uncertainty just months
before the T20 World Cup 2026.
The platform has informed the ICC that it cannot fulfill the remaining two years through 2027 due to massive financial losses, prompting the cricket body to scout new broadcasters. This crisis threatens broadcast coverage in India, which drives nearly 80% of ICC's revenue.
Why is Jio Hotstar pulling out of ICC deal?
JioHotstar's audited accounts show provisions for expected sports rights losses doubling to ₹25,760 crore in 2024-25 from ₹12,319 crore the prior year, as ad revenues fail to match acquisition costs. A key blow came from India's ban on real-money gaming apps, wiping out an estimated $840 million in advertising from that sector, which traditional brands have not replaced.
The merger into a duopoly with Sony has further strained the market, leaving limited buyers for high-value rights.
T20 World Cup 2026 in Jeopardy
Co-hosted by India and Sri Lanka from February 7 to March 8, 2026, the tournament faces a broadcasting void if no new deal is secured, though JioHotstar remains legally bound until a replacement is found. ICC has relaunched tenders for 2026-29 rights, targeting $2.4 billion, while approaching Netflix and Amazon, but low interest persists amid pricing concerns. Amid this, the apex body of world cricket can be in deep trouble as its revenue may take a major hit in the upcoming months.
No official statements have emerged from ICC or JioHotstar, but the platform continues airing events like India vs South Africa series.
