Netflix, one of the biggest and certainly most popular videos streaming sites in the world, is looking to cement is ever growing consumer base in the Indian market.
Netflix, one of the biggest and certainly most popular videos streaming sites in the world, is looking to cement is ever growing consumer base in the Indian market. CEO Reed Hastings, on his first visit to India, told IE, that the company’s aim was to concentrate its efforts on its premium content and added more content for the country. Although Reed did not give any specific numbers, he said that India was the country in Asia, that witnessed the strongest growth. The service has 94 million subscribers, out of which 40 million are outside of the US. Speaking of original content for the website, Reed says that Netflix started with Narcos and Stranger Things etc a year ago and they have garnered a lot of popularity in India. But the company is currently focussing on creating a lot of local content for India. The service will have also exclusive rights for Shah Rukh Khan’s upcoming films for the next three years.
Netflix’s primary competition, Hotstar also streams sports events in India. Netflix, however, is not looking to venture into the sector and acquire the rights. It is looking for original content, which works all over the world. The aim to launch an Indian franchise such as Narcos, Reed said. Netflix also understands its customer base and their lack of patience and thus has been working to remove buffering while video streaming. Netflix has announced strategic partnerships with Airtel, Videocon and Vodafone.Vodafone will partner Netflix in carrier payments, which would allow the payment integration straight through monthly bills for the subscribers.
And while, it is a welcome move on Netflix’s part to set up more options for its Indian customers, be it the local original content or Indian content for international internet television. But it all started last year when the number of Netflix users went manifold prompting the company to invest better in the country that could provide to be its biggest market yet. Could it be a possible that the launch of Reliance Jio and its offers of free unlimited high-speed internet played an important role in that achievement? Netflix CEO admits so. Saying that India was a mobile-driven market and explained how the introduction of Jio had seriously increased the streaming from the jio networks. “So we’re launching partnerships today with Airtel, Videocon, Vodafone and we’ll have more of these around the world,” said Hastings in an interaction with members of the Indian media.