Jeff Bezos, CEO & Founder, Amazon in his recent visit to India announced his plan to double investments on content in the country.
Jeff Bezos visited India to meet with business leaders and announce Amazon’s India-specific objectives. Along with surging investments in content, he also plans to put in $1 billion towards ‘digitizing small and medium businesses’ in India.
Bezos claims, the number of hours Prime Video is watched in India in the last two years has grown by six times. Indian shows on Prime have been thriving with the most popular being Mirzapur, Made In Heaven, and The Family Man.
Prime membership also offers express delivery and exclusive offers on the Amazon shopping app. Therefore, Bezos believes content can be an effective driving force for people to join Prime and eventually use the membership for shopping too. Which explains his billion-dollar investment in small and medium businesses.
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Amazon Prime Video is the second most preferred OTT platform in India with 26% of respondents picking it in a recent survey, not too far behind Hotstar with 41%.
The OTT sector is also subjected to grow exponentially in the coming years as Gen-Z takes over the market. Flipkart and Amazon both are in a neck-tight competition with 31.9% and 31.2% market share in the online shopping sector in India, respectively.
Bezos has a lot of faith in the Indian market for shopping and viewing both, he says, “I predict that the 21st century is going to be the Indian century”.