Bollywood's shift to streaming giants raises concerns over content diversity & market control
The repeated failure of small- and big-ticket films has skewed the market in favour of a few deep-pocketed streamers such as Netflix, Prime Video and JioHotStar (see chart).
Three years ago, the industry was in a sellers' market, where producers and filmmakers had plenty of options to secure funding. With at least 10 mainstream streamers and a strong presence of production houses and studios actively creating and acquiring content, there was healthy competition, giving content creators more bargaining power.
In its latest research, media and entertainment research firm Ormax Media said the combined share of acquiring theatrical releases across languages of Netflix and Amazon Prime Video has jumped to a whopping 76% in 2024 from 60% in 2022, indicating a creation of a duopolistic market.
After the pandemic, the film industry saw a major shift as a handful of deep-pocketed streamers managed to survive the repeated flops of big-budget films, while many others struggled. Some streamers pulled back on content creation and acquisition, while production houses and studios took a cautious approach, pausing new projects. With fewer players left standing, the market became more concentrated, giving the surviving streamers even greater control.
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