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Netflix, Amazon increase spending on content for India

Netflix Inc. and Amazon.com Inc. will be spending an additional $311 million, or about 20 billion Indian rupees, each for buying more programming for their streaming services in India, LiveMint.com reported April 10.

Amazon has already teamed up with production houses such as Yash Raj Films, Dharma Productions, T-Series, Shree Venkatesh Films, Everest Entertainment, V Creations and Dream Warrior Pictures, while Netflix has struck deals with Shah Rukh Khan's Red Chillies Entertainment and Viacom 18 Motion Pictures.

According to the report, Amazon Prime Video has 9.5 million active subscribers in India, as compared to 4.2 million subscribers for Netflix.

As of April 7, US$1 was equivalent to 64.26 Indian rupees.