Chennai | Streaming service JioHotstar on Friday announced that it will be investing Rs 4,000 crore over the next five years to strengthen South India’s creative economy.

The announcement was made during a star-studded event here attended by leading figures from the region’s film and television industries.

Sushant Sreeram, Head – SVOD Business & Chief Marketing Officer at JioStar, said the investment forms part of a broader collaboration with the Tamil Nadu government.

“Earlier today, JioHotstar formalised a Letter of Intent with the Government of Tamil Nadu in the presence of the Chief Minister M K Stalin. This outlines a shared commitment to invest in talent, expand infrastructure and build a future-ready creative economy from the South.

"As part of this vision, JioHotstar will invest Rs 4,000 crore to nurture creators, strengthen the production ecosystem and build a pipeline of stories that are ready for India and ready for the world,” he said.

The event was attended by Tamil Nadu Deputy Chief Minister Udhayanidhi Stalin and veteran actor-politician Kamal Haasan among other prominent personalities from South cinema.