Lionsgate has announced the sale of its South Asia streaming service, Lionsgate Play, to its founder, Rohit Jain. The sale, which does not disclose financial terms, allows Jain to take full ownership and manage Lionsgate Play independently, marking a significant shift for the company. As part of the agreement, Lionsgate will license the brand name to Jain and will continue to provide studio films and television series to support the platform under a multiyear contract.
Lionsgate has identified the streaming service as a non-core asset, opting to focus on its primary film and television operations in India and Southeast Asia. Jain, who has been pivotal in the growth of Lionsgate Play over the past eight years, previously served as president of Lionsgate Play Asia. Under his leadership, the service transitioned from a niche offering centered on Hollywood content to a broader entertainment platform tailored for the Asian market.
Strategic Expansion in the Asian Market
Jain joined Lionsgate in 2018 to establish the studio’s presence in Mumbai. He oversaw the launch of Lionsgate Play as a collaborative effort between Lionsgate India and Starz, initially offering a library of Hollywood blockbusters and popular series. To expand the platform’s reach beyond India, Jain forged partnerships with major telecommunications companies, broadband services, and other global streaming platforms.
According to Brian Goldsmith, Lionsgate’s Chief Operating Officer, “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.” Goldsmith emphasized Jain’s entrepreneurial skills and deep understanding of the Asian landscape as crucial for leading the platform into its next phase of growth.
The sale follows Lionsgate’s strategic decision to separate its studio business from Starz, which now operates independently. Jain’s focus has not only been on Lionsgate Play but also on driving the Starz premium subscription service into emerging Asian markets.
Future Prospects for Lionsgate Play
In his statement, Jain highlighted Lionsgate Play’s establishment as a leading destination for Hollywood content in India, noting its potential to expand further. “Lionsgate Play has established itself as a leading destination for Hollywood content in India and is now positioned to expand well beyond that, shaping a differentiated, future-ready streaming platform for the region,” he stated.
The transition represents a significant milestone for both Lionsgate and Jain, as the streaming landscape in Asia continues to evolve rapidly. With Jain at the helm, Lionsgate Play is set to explore new opportunities and strengthen its position in a competitive market, ultimately aiming to become a key player in the region’s digital entertainment sector.
