Netflix-Warner deal sparks concern in India’s entertainment sector
Films in Indian cinemas could be screened for a shorter period before they move to Netflix’s streaming platform, an association warns
Netflix’s proposed US$72 billion takeover of Warner Bros. Discovery is stirring concern across India’s entertainment sector, with local players warning that the deal could accelerate a shift away from cinemas and intensify competition in the streaming space.
The deal – one of the biggest in the global entertainment industry in years – is expected to strengthen Netflix’s position at the top of the global streaming market by giving it a more extensive content library, including titles from the Warner Bros. film studio and HBO brand.
The deal is awaiting regulatory approval and is expected to be concluded in the coming months.
Analysts have described Warner Bros. as a “crown jewel” that could boost Netflix’s clout beyond streaming.
With a base of 16 million subscribers, Netflix India is third in the country’s streaming market and is one of the biggest contributors to its parent company’s revenue, according to media reports.
The Multiplex Association of India recently warned that the deal could undermine local cinemas, which have been trying to recover since the Covid-19 pandemic forced many to close or operate at much lower capacity.