Amazon eyes stakes in Indian film, media distribution cos: Report
According to a report in a leading English daily, Amazon India is evaluating three to four deals as part of its plan to expand Prime Video in India.
E-commerce giant Amazon's India unit is eyeing stake acquisition in film and media distribution companies, including a prominent cinema chain. The cinema chain, however, said that the report was "factually incorrect" and there were no discussions between the company and Amazon India.
According to a report in a leading English daily, Amazon India is evaluating three to four deals as part of its plan to expand Prime Video in India. “After the initial growth of the first six months last year, the OTT content business has not grown as fast as the company expected. There are three to four deals in this space being evaluated currently, including some distressed assets. Amazon India is in advanced talks with some of them,” a source, quoted in the report, said.
Amazon Prime Video is bullish on the Indian OTT sector. The platform has allocated significant funds for creating original content. It has also come up with a mobile-only plan for India priced at Rs 89 per month in partnership with Bharti Airtel. The company also launched a separate AVOD platform miniTV which sits within the Amazon app. Currently, miniTV is available only in India.
Recently, Amazon had made its first big acquisition in the movie studio space by gobbling up MGM for $8.45 billion.
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)For more updates, be socially connected with us on
Instagram, LinkedIn, Twitter, Facebook & Youtube