Amazon Rains on Netflix's Parade in This Key Market

Netflix (NASDAQ: NFLX) treats India as its next growth frontier because of booming smartphone demand and the country's fast-growing middle-class population, but the streaming giant has its task cut out there. India's over-the-top (OTT) video streaming market is a hotly contested space, with several stakeholders such as Amazon (NASDAQ: AMZN) trying to grab a piece of the pie. This has forced Netflix to cut prices in India so that it can remain relevant in a price-sensitive market.