With more than 800 million users in India, the online entertainment segment is growing drastically in India, creating more space for the top OTT (Over the Top) sector. Players such as Amazon Prime, Netflix and Hotstar are already catering to millions of consumer with their online content.
According to Reuters there can be a possibility of new entrant Walmart Inc. Flipkart in the OTT industry. As per the reports in The Hindu, Flipkart already has tied up with Star-owned Hotstar by bringing it on the board and launching the customer loyalty programme Flipkart Plus. It also launched video advertisement platform with Hotstar in July 2018.
The talks came at a time when demand for video streaming services such as Amazon Prime and Netflix is growing with every passing day, and these streaming services are investing millions in the OTT sector.
Under the guidance of Chief Executive Kalyan Krishnamurthy, Flipkart has identified the massive business opportunity in the sector and is attempting to bet big on it. Flipkart is looking to form a strategic alliance with Hotstar either through partnership or investment. Doing so will fill the gap for the company in this industry. It is said that under the leadership of former hedge fund manager, it has renewed its strategies and policies, and following an aggressive approach towards diversification of their services, while re-aligning their services towards electrical appliances and smart phones. Last year, Flipkart passively approached Indian startups Swiggy and Urban Ladder to compete with Amazon in India.
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