Content studio Lionsgate has sold its OTT streaming business, Lionsgate Play, in South Asia and South-East Asia to Rohit Jain at an estimated deal value of around $20-30 million. A Lionsgate veteran in Asia, Jain built the platform from the ground up.
Rohit Jain, president of Lionsgate Play Asia, will take full ownership and exit Lionsgate as part of the transaction. Lionsgate will continue to own and operate its film and television distribution business in India and South-East Asia.
Lionsgate has invested around $100 million in its streaming business in the region over the years. It has around 5 million paid subscribers.
Under a multi-year agreement, Lionsgate will license the Lionsgate Play brand name and provide access to its film and television catalogues, enabling the platform to continue operating and scaling in the region.
According to Tofler data, Lionsgate Play LLP, the operator of Lionsgate Play in India, reported a 57% decline in net loss to Rs. 26 crore in FY25 while operating revenue declined by over 7% to Rs. 75 crore.