Mukesh Ambani and Tata will join forces to compete with Netflix, Hotstar, and Amazon

Tata and Reliance Group, the largest industrial groups in the country, have started big preparations. Industrialist Mukesh Ambani is planning to start a venture with the Tata group. Mukesh Ambani is all set to make a big splash in the media and entertainment industry. Mukesh Ambani and Tata's coming together could be a big blow to Netflix, Hotstar and Amazon. Reliance Industries is all set to buy a 29.8 percent stake in Tata Play, a Tata group company. Tata Play is a subscription-based satellite TV and video streaming service.

According to a report, Reliance may buy this stake from Walt Disney. With this, Reliance Television can strengthen its position in the distribution sector. Apart from this, it will also increase the reach of Reliance's OTT platform JioCinema. Tata Play has not given any information about this. Tata Sons, the holding company of the Tata Group, has a 50.2 percent stake in Tata Play. Singaporean fund Temasek has a 20 percent stake in Tata Play.

Tata-Reliance Group agreement begins. 

Temasek is in talks to sell its stake in Tata Play to the Tata Group. But the discussion in this matter has not progressed. Now if the agreement between Reliance and Tata Play is finalized, it will be the first venture between the Tata Group and the Reliance Group. This will give Reliance's streaming platform JioCinema an opportunity to reach out to Tata Play customers. If the deal goes through, Reliance wants to offer the entire content catalog of its streaming platform JioCinema to Tata Play customers.

Bankers are currently evaluating Disney's stake in Tata Play. Tata Play has a good market share but is facing competition from Netflix, Hotstar, JioCinema and Amazon Prime. Tata Play had a loss of Rs 105 crore in the last financial year. In the financial year 2022, the company had made a profit of Rs.68.60 crores.