iWorld
Prime time for India as Amazon’s streamer doubles down on desi drama
MUMBAI: At a lively fireside chat during AVIA’s Future of Video India conference, part of the first-ever WAVES summit, Kelly Day, head of international & VP, Prime Video, and Gaurav Gandhi, VP for Asia Pacific & MENA, lifted the curtain on Amazon’s streaming strategy with India in a starring role.
Kelly Day waxed lyrical about the enduring allure of the big screen, declaring, “We believe in the theatrical window,” and reaffirming Prime Video’s intent to back the box office while keeping its streaming chops strong. The aim? Around 14–15 global theatrical releases a year, because nothing beats the magic of popcorn-fuelled premieres unless you can also watch it at home in your PJs.
But beyond the cinema, it’s the everything hub approach that’s taking centre stage. “We want to be the first place people think of when they want to watch something,” said Day, noting that with over 200 million Prime members worldwide, Prime Video is less about being everything to everyone and more about helping everyone find exactly what they want.
For India, that means layering choice upon choice. Gaurav Gandhi detailed how the country has become Prime’s petri dish for innovation TVOD (Transactional Video on Demand) is booming with 7000 plus titles, and 60 per cent get rented every month across 95 per cent of India’s pin codes. The subcontinent is also home to 25 plus channel partners, making it second only to Japan in Prime’s global “channels” play.
“India is a super important locale,” Gandhi noted, adding that it’s not just a growth engine for Prime sign-ups but also a massive content factory, with one of the largest original slates outside the US. Even more impressive? One in four views of Indian content comes from overseas, proving that regional stories are finding global legs.
And when it comes to customisation, India’s Prime menu is a buffet: from Prime Lite to full-fat Prime, mobile-only editions to programming in 10 Indian languages, the streamer’s playbook here is all about slicing and dicing its offerings to match the country’s many moods. “We’re learning from India and taking that learning global,” Gandhi quipped.
So while other platforms try to decode the Indian market, Prime Video seems to have cracked the subtitles and is quietly exporting the script.
iWorld
Bill Ackman’s Pershing Square makes $64 billion bid to acquire Universal Music Group
Ackman pitches NYSE relisting plan as UMG board weighs unsolicited offer
The hedge fund has proposed a business combination that values UMG at €30.40 per share, representing a hefty 78 per cent premium to its current trading price. The offer includes €9.4 billion in cash alongside stock in a newly formed entity, with shareholders set to receive €5.05 per share in cash and 0.77 shares in the new company for each UMG share they hold.
Under the proposal, UMG would merge with Pershing Square SPARC Holdings Ltd and re-emerge as a Nevada-based entity listed on the New York Stock Exchange. The move is designed to boost investor visibility and potentially secure inclusion in major indices such as the S&P 500.
Pershing Square Capital Management ceo Bill Ackman argued that while UMG’s operational performance remains strong, its market valuation has lagged due to external factors. “UMG’s stock price has languished due to a combination of issues that are unrelated to the performance of its music business,” Ackman said, pointing to concerns ranging from shareholder overhang to delayed US listing plans.
Ackman also flagged what he sees as untapped potential in UMG’s balance sheet and a lack of clear capital allocation strategy. He added that the market has not fully recognised the value of UMG’s €2.7 billion stake in Spotify, alongside gaps in investor communication.
The proposed transaction would also result in the cancellation of around 17 per cent of UMG’s outstanding shares, while maintaining its investment-grade balance sheet. Pershing Square has said it will fully backstop the equity financing, with debt commitments secured at signing. The deal is targeted for completion by the end of the year.
UMG, however, has struck a measured tone. The company confirmed that its board has received the non-binding proposal and will review it with advisers. It reiterated confidence in its current strategy and leadership under Lucian Grainge, signalling no immediate shift in stance.
The proposal comes at a time when global music companies are navigating evolving investor expectations, streaming economics and capital allocation pressures. For Pershing Square, the bet is clear: sharpen the financial story, relist in the US, and let the music play louder in the markets.
Whether UMG’s board is ready to change the tune remains to be seen, but the spotlight on its valuation just got a lot brighter.
