It seems that we will have another player in the growing music and video streaming market in India this year. According to a report in The Economic Times, e-retail giant Amazon is planning to launch its music and video-streaming services in the country as it gets ready to introduce Amazon Prime subscription service.
ET report notes that the plans are still in the early stages and Amazon has tasked Nitesh Kripalani, former EVP of Digital and New Media at Sony’s Multi-Screen Media, to get the necessary rights and build a catalogue of digital media content.
While the music-streaming market might have some decent options in the country, video-streaming is a still in a nascent stage (partly because of slow internet speeds) and the entry of a big player like Amazon will surely help the ecosystem. To remind you, Amazon currently allows consumers to buy or stream TV shows, movies, and music in the United States and streaming option is bundled free-of-oost with the Prime subscription service.
No specifics about Amazon’s plans are available at this point, but we hope to hear from the company in the coming months.