India: Flipkart eyes stake in Hotstar to enter video streaming arena

Artwork – DEALSTREETASIA/HotStar

Flipkart has held talks to buy a stake in Hotstar, Star India’s video streaming service, as part of India’s largest online retailer’s strategy to bet big on video content and attract more Internet consumers and shoppers, three people aware of the discussions said. The talks have not reached an advanced stage and may or may not result in a transaction, the people cited above said. All three requested anonymity as the talks are confidential. Mint could not immediately verify the size of the stake Flipkart wants to buy in Hotstar.

Flipkart already has some ties with Hotstar, having launched a new video advertisement platform with Hotstar in July. Hotstar is also one of the many Internet partners that Flipkart has brought on board for its relaunched customer loyalty programme, Flipkart Plus.

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