Disney+ Hotstar's loss down to Rs 343.16 crore in FY 22

Novi Digital Entertainment, which owns OTT platform Disney+ Hotstar, has narrowed its net loss for FY22 by 43% to Rs 343.16 crore from Rs 600.77 during the previous fiscal.

While its subscription revenue has increased 65% to Rs 1373.61 crore, the operational income has increased 93% to Rs 3220.41 crore from Rs 1670.63 crore in the last FY.

The ad revenue for the Star India-owned company has ballooned to Rs 1684.31 crore, which is an increase from Rs 829.74 crore in FY21.

Sporting events like the ICC T20 World Cup and IPL have helped the streaming platform to achieve the growth.