Netflix and Amazon seek passage to India for new growth

SINGAPORE : Netflix and Amazon are battling a dizzying array of homegrown outfits, from Bollywood producers to broadcasters, for dominance of India’s streaming market, a key target as growth in Western countries slows.

As more Indians shift to viewing movies and shows online, industry revenues from streaming in the country are set to jump from $500 million in 2018 to as much as $5 billion in 2023, according to Boston Consulting Group.

With many Western markets saturated and Asia’s top economy China effectively closed off to foreign streamers, a nation of 1.3 billion where phone ownership is forecast to rocket makes for a tantalising prize.