Amazon India is shopping: Inox, others on wishlist

IN A move aimed at diversifying its entertainment business, Amazon India is learnt to be in discussions with multiple players in the film and media distribution segment, including Mumbai-based movie theatre chain Inox Leisure Ltd, for potentially picking up stakes in them, sources told The Indian Express.

With its over-the-top (OTT) content business not growing as fast as the company expected — Amazon India launched its OTT platform Prime Video in 2016 — and with movie theatre chains impacted by lockdowns over the last year-and-a-half, Amazon India is said to be looking at acquiring interest in some of these businesses. Inox, a source said, is a likely candidate.

“After the initial growth of the first six months last year, the OTT content business has not grown as fast as the company expected.