Indian OTT space is heating up with the country's top two billionaire tycoons — Mukesh Ambani and Gautam Adani — gearing up to compete against each other. This is unlikely to be good news for Netflix Inc (NASDAQ:NFLX) — which is already reeling under the carpet with a huge subscriber loss, amid the intense competition — and other U.S. companies like Amazon Inc's (NASDAQ:AMZN) and Walt Disney Co's (NYSE:DIS) that have a significant presence in the country.
What Happened: The business magnates with dominance in several sectors are doubling down on India's media sector. While Reliance Industries CEO Ambani already has a strong presence in media through his ventures like Jio and Viacom18, Adani recently chose to enter the media sector with new venture AMG Media Networks.
