This story belongs to the Fortune India Magazine January 2026 issue.
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WHEN THE U.S.-BASED streaming giant Netflix arrived in India in January 2016, the Indian digital ecosystem was on the cusp of a massive disruption. What followed that year was dramatic enough: the launch of Reliance Jio, which changed the dynamics of data forever with its disruptive pricing, shaking up the entire telecom space. In that sense, it was perfect timing for Netflix, which started off in the U.S. as a DVD rental service and has morphed into the megacorp it is today. Cut to 2026, and Netflix is poised to take another giant leap globally with its bold bid for Warner Bros. Discovery, which will then give it massive power over the theatrical and motion picture studio space. That, inevitably, will also have an impact on its Indian business.