Lionsgate has entered into an agreement to sell its South Asia streaming service, Lionsgate Play, to its founder, Rohit Jain. The terms of the sale, including the purchase price, were not disclosed. Following the acquisition, Jain will assume full ownership and management of Lionsgate Play while also exiting Lionsgate. As part of the agreement, Lionsgate will license the brand name to Jain and continue supplying studio films and television series to the platform under a multiyear arrangement.
The decision to sell comes as Lionsgate aims to monetize Lionsgate Play, which it has classified as a non-core asset. The company plans to maintain its core studio film and television operations in India and Southeast Asia, where it continues to operate under its own name. Jain has been instrumental in the development and expansion of Lionsgate Play over the past eight years, serving as president of Lionsgate Play Asia.
Strategic Shift for Lionsgate Play
Lionsgate Play has recently shifted its focus from a niche Hollywood service to a broader entertainment platform with a regional emphasis across Asia. Jain, who joined Lionsgate in 2018 to establish the studio’s Mumbai office, played a pivotal role in launching the premium streaming app through a partnership between Lionsgate India and Starz. The platform was initially supported by an extensive library of Hollywood films and popular series.
To extend Lionsgate Play’s reach beyond India, Jain forged strategic partnerships with major telecommunications companies, broadband services, and global streaming platforms. Brian Goldsmith, Lionsgate’s Chief Operating Officer, expressed confidence in Jain’s capabilities, stating, “Under his stewardship, the Lionsgate brand has gained greater resonance with audiences in South Asia and Southeast Asia, and Lionsgate Play has emerged as a distinctive premium streaming platform in one of the world’s fastest-growing digital entertainment markets.”
Jain’s responsibilities also included overseeing the Starz premium subscription platform as it entered emerging Asian markets. The recent sale follows Lionsgate’s decision to separate its studio business from Starz, which now operates independently.
Future Prospects for Lionsgate Play
In his statement, Jain highlighted the progress made by Lionsgate Play, asserting that it has established itself as a leading destination for Hollywood content in India. He emphasized the platform’s potential for expansion, aiming to create a differentiated streaming service that is well-suited for the evolving digital landscape of the region.
As Lionsgate Play embarks on this new chapter under Jain’s leadership, industry observers will be keen to see how the platform adapts to the competitive streaming environment and continues to attract a diverse audience across Asia.
