Mukesh Ambani's Reliance makes big announcement, unveils new free…

As the streaming war in India heats up, Mukesh Ambani’s JioCinema on Thursday cut the prices of its premium offering to Rs 29 a month, that too advertisement-free.

JioCinema secured the rights to stream IPL games online for five years by paying Rs 23,758 crore, which is equivalent to Rs 4,750 crore per year. JioCinema is currently streaming IPL 2024 for free and some of the content on the platform can also be accessed without any subscription. Although IPL 2024 streaming is free of cost, viewers are often subjected to a lot of advertisements. 

An advertisement-free version would start at an introductory price of Rs 29 per month for streaming on a single device and go up to Rs 89 for a "Family" plan to stream on four simultaneous devices, JioCinema said in a statement. The platform previously priced its premium offering at Rs 99 a month, or Rs 999 a year, for streaming on up to four devices simultaneously. The plan was not ad-free.

Mukesh Ambani is the richest man in India with a net worth of Rs 971002 crore. He is the owner of India's biggest telecom operator Reliance Jio and is the chairperson of Reliance Industries which is the most valuable company in India with a market cap of Rs 1995000 crore.