Lionsgate has announced the sale of its South Asia streaming service, Lionsgate Play, to its founder, Rohit Jain. The terms of the agreement, including the sale price, were not disclosed. Jain will assume full ownership of Lionsgate Play and will exit Lionsgate, while the company will continue to license the brand name and supply studio films and television series to the platform under a multiyear agreement.
This strategic move reflects Lionsgate’s intention to monetize Lionsgate Play as a non-core asset, allowing it to focus on its primary film and television operations in India and Southeast Asia. Jain, who has been instrumental in building and scaling Lionsgate Play since its inception, served as president of Lionsgate Play Asia for eight years. He joined Lionsgate in 2018 to establish its Mumbai office, leading the launch of the premium streaming service in collaboration with Starz.
Transition to a Broader Entertainment Platform
Under Jain’s leadership, Lionsgate Play has evolved from a niche Hollywood service to a more comprehensive entertainment platform tailored for the Asian market. Recently, the platform has shifted its focus to expand beyond its initial offerings of Hollywood content, seeking to better cater to regional audiences. To facilitate this growth, Jain established strategic partnerships with key telecommunications companies, broadband services, and global streaming platforms.
Brian Goldsmith, Chief Operating Officer of Lionsgate, praised Jain’s contributions, stating, “Under his stewardship, the Lionsgate brand has gained greater resonance with audiences in South Asia and Southeast Asia. Rohit is an entrepreneur with a deep understanding of the Asia landscape, and he has the expertise and experience to lead Lionsgate Play into an exciting new phase of growth.”
Future Prospects for Lionsgate Play
As Lionsgate Play prepares to expand its reach, Jain emphasized the platform’s potential to grow beyond its established Indian audience. “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 noted.
This sale comes in the context of Lionsgate’s recent decision to separate its studios division from Starz, which now operates independently. With this transition, Lionsgate aims to bolster its South Asian business while Jain focuses on enhancing the Starz premium subscription platform in emerging markets.
The move marks a significant milestone for both Lionsgate and Rohit Jain as they embark on new chapters in their respective business journeys. The evolving digital landscape in Asia presents numerous opportunities for growth, and Lionsgate Play is poised to capitalize on this momentum.
