Amazon Heats Up Streaming Rivalry With Disney, Netflix In India

Amazon.com Inc AMZN launched Prime Video Channels in India starting September 24, attempting to win market share from The Walt Disney Co DIS and Netflix Inc NFLX.
Prime members have the add-on subscription option of popular OTT services and stream their content on India's Amazon Prime Video app and website at subscriptions ranging from ₹299 a year for discovery+ to ₹1,999 a year for MUBI.
The Prime members will get the option to watch from eight video-streaming services, including discovery+, Lionsgate Play, DocuBay, Eros Now, MUBI, hoichoi, manoramaMAX, and ShortsTV.
Disney+ Hotstar, Amazon Prime Video, and Netflix have an 80% market share of subscribers and revenues in 2021 in the South Asian country led by Walt Disney and followed by Amazon at the second place, Bloomberg reports.
Amazon also announced the Great Indian Festival 2021 from October 4, involving lakhs of small sellers, including over 75,000 local shops from 450 cities. GIF 2021 will also showcase products from Amazon sellers under various other programs like Amazon Launchpad, Amazon Saheli, Amazon Karigar, and top Indian and global brands across categories.
Price Action: AMZN shares closed higher by 1.06% at $3,416 on Thursday.