Amazon is set to unveil over 70 new TV shows and films on its Indian streaming service in an attempt to seriously outpace rivals like Netflix and the emerging colossus from the Reliance–Disney merger. This ambitious plan highlights Amazon’s strategy to attract the next wave of subscribers, focusing on India’s growing audience as a vital component of its global strategy.
What to know: Mike Hopkins, a top executive at Prime Video & Amazon MGM Studios, highlighted India’s significance during a press meet in Mumbai, noting the country’s key contribution to Amazon Prime’s subscriber growth worldwide.
Despite a global scale-back, Amazon is betting big on India’s 1.4 billion-strong market, known for its rapidly expanding digital entertainment sector.
See also: Truecaller Rolls Out AI-Powered Spam Blocking Feature For Android Users
Why it matters: The stakes are high in India’s online streaming battlefield, with the Disney-Reliance alliance poised to command a whopping 47% market share, overshadowing Amazon’s current subscriber count, as per Comscore.
Yet, Amazon Prime isn’t backing down, planning a comeback of hit Hindi series like Mirzapur and Paatal Lok, alongside introducing a local rendition of the blockbuster Citadel.
This push into India’s diverse linguistic landscape comes amid a broader shake-up in U.S. media, with Amazon streamlining operations and reducing its workforce globally. Yet, the promise of India’s entertainment market, set to hit $37.4 billion (₹3.1 lakh crore) by 2026, remains a beacon for Amazon’s ambitious expansion plans.
Read next: Nothing Phone Order Turns Into E-Commerce Nightmare As Flipkart Stalls Return
Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.