Amazon.com Inc. announced its intention to release more than 70 new TV shows and films on its Indian streaming platforms.
Currently, the mentioned company, which has transformed from an e-commerce player into a multifunctional structure operating, including in the advanced technology sector and the sphere of multimedia, is striving to expand its subscriber base and improve competitiveness. Amazon is currently competing in the streaming area with Netflix Inc. and a new player created by the merger of media units Reliance Industries Ltd. and Walt Disney Co.
Mike Hopkins, senior vice president of Prime Video & Amazon MGM Studios, on Tuesday, March 19, during a conversation with media representatives in Mumbai, said that the company expects the next 250 million subscribers to come from outside the United States. He also noted separately that India is one of the most important regions for the firm.
Amazon, which is currently cutting back its operations worldwide, continues to double down in the Indian market. It is worth noting that this country is in the zone of increased attention from foreign companies, largely because the local population is more than 1.4 billion people. Moreover, it is currently one of the fastest-growing entertainment markets in India, which is also showing rapid consolidation.
Mike Hopkins says that over the past few years, more people have signed up for Amazon Prime in the mentioned country than anywhere else in the world.
The merger of Disney and Reliance is expected to capture 47% of the online streaming segment in India, which is equivalent to about 243.5 million users. It is worth noting that, the number of consumers of the Amazon streaming service in the mentioned country in January of the current year was 23.7 million people. A similar figure for Netflix two months ago was recorded at 42 million users. The relevant data was published by the analytical company Comscore.
Amazon Prime will bring back its popular Hindi web series, including Mirzapur, Paatal Lok, Panchaayat, and a local chapter of Citadel, its $300 million spy thriller. The company also intends to back titles in other Indian regional languages. Currently, Amazon, whose ownership structure includes the best American delivery service, is seeking to increase its share in the Indian entertainment market.
Last year, the company made major changes to its business in the United States. As part of the related decisions, Amazon has shelved dozens of projects and laid off more than 27,000 employees in its Twitch content unit and Alexa voice assistant team. The company has also reduced the size of its originals team in Singapore.
