Sep 18: In what could be a game changing move on the internet-driven home entertainment space, Flipkart is said to be close to picking up stake in Star-owned video streaming service Hotstar. This, according to a Mint report, could be Flipkart’s strategy to lure more customers through video content.
Though the company is on parleys to pick up stake in Hotstar, it is believed that a final decision is yet to come through. In case you did not know, Flipkart already has relations with Hotstar, as it had unveiled a new video advertisement platform with Hotstar in July. Hotstar also happens to be one of the ecommerce major’s internet partners after it relaunched the customer loyalty programme called Flipkart Plus some time ago.
If the Flipkart – Hotstar deal comes through, it would pose a challenge to video streaming services such as Amazon Prime Video and Netflix in India. The video streaming business is on a roll at the moment, with companies pushing major funding.
Flipkart believes that content would be a growth driver of the future. And so, without having to build a new platform on that terrain, Flipkart is keen on having a deal with Hotstar. This would help it taken on the likes of Amazon Prime Video and Netflix.
Flipkart was reportedly in talks with other large streaming services over the past few months. However, it is the Hotstar space that could help it reach a finalisation.