Netflix’s takeover of Warner Bros Discovery has shaken up not just Hollywood but also caused India’s cinema industry. Multiplex Association of India (MAI) recently warned that the latest bout of consolidation could undermine the country’s theatrical ecosystem.The association has highlighted a worrying trend: global streaming platforms purchasing major studios. According to MAI, the shift in ownership threatens the supply of titles that cinemas depend on to maintain footfall across the year.
Amazon’s purchase of MGM for $8.5 billion did not face the same concerns because the studio was active at the time and Amazon subsequently increased its focus on cinemas. Amazon MGM Studios is now preparing to release three to four films annually in India, ET reported. Netflix, on the other hand, has continued to take a selective approach to theatrical releases. The financial scale of Netflix’s $83 billion agreement for Warner Bros Discovery, which follows the separation of the linear TV networks and Discovery+ into Discovery Global, places it among the largest entertainment mergers in years, comparable to Disney’s $71 billion acquisition of 21st Century Fox in 2019.MAI highlighted that Indian theaters depend on a steady, diverse slate to stay profitable. A major Hollywood studio shifting under a streaming platform that does not prioritize cinema, it argues, has implications for both competition and earnings. Warner Bros has been an integral supplier of titles to the Indian release calendar, it said.Kamal Gianchandani, president of MAI, said the Indian theatrical market is built on “choice, scale and cultural diversity” and noted the economic role played by cinemas.“Cinemas in India are more than entertainment venues. They are cultural hubs and major economic engines. They support millions of livelihoods across production, distribution, exhibition, food and beverage and ancillary services,” he told ET.He also cautioned that Netflix’s stance on cinema has already been evident.“If this acquisition proceeds, the risk is two-fold: a meaningful reduction in high quality content for cinemas and the potential for shortened or non existent theatrical windows. This would impact revenues, limit consumer choice and weaken the broader film ecosystem. A consolidation of this size requires careful scrutiny and MAI will continue to raise its concerns with regulators in India and abroad,” he said.Netflix has responded by saying it plans to retain Warner Bros’ existing operations and strengthen its theatrical capabilities.Executives within multiplex chains privately acknowledge that the merger’s immediate consequences for India may not be dramatic, as the country’s box office is driven primarily by Hindi and regional titles. Data by Ormax Media shows the 2025 box office reached Rs 11,077 crore by October, 24% higher than the previous year, with Hollywood accounting for 10% of revenue.Though Warner Bros Discovery’s share of that revenue sits in the low single digits, Hollywood oveall continues to be make double-digit contributions to large chains such as PVR Inox and Cinepolis. One senior multiplex executive noted the wider implications, “While WBD’s contribution in India is not very large, this merger will shake up global cinema in the years ahead. There is already strong opposition to the deal in the US,” he said.
