Amazon (AMZN) and Netflix (NFLX) have both partnered with Clean Slate Filmz to supply them with content for their streaming services in India, Bloomberg reports. Shares of AMZN rose 1.33% to close at $2,890.88 on Monday while Netflix fell 2.60% to $387.15. Despite their rivalry, the American streaming giants have turned to the same Indian studio with a track record of producing hit films to bolster their competitiveness in the important Indian market. India’s subscription video revenue hit $0.8 billion in 2021 and is forecast to grow to $2.1 billion by 2026, according to analysts at Media Partners Asia.
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