Amazon's shopping list in India includes stakes in film & media Cos
Amazon India, one of the biggest e-commerce company is looking to diversify its entertainment business, eyeing stake acquisition in film and media distribution companies including Mumbai based movie theatre, Inox Leisure.
According to the media reports, the e-commerce company is planning to expand its Prime Video by evaluating three to four deals for its diversification exercise. “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,” was quoted in the report.
Before the pandemic had struck, Amazon India invested $1.5billion in the Indian business and its OTT platform Amazon Prime Video also came-up with a plan for India at Rs89/- per month.
According to the media reports, Amazon had earlier held discussions with US-based movie theatre chain AMC for acquiring a stake.