Netflix has revealed that their plan for India includes expanding the user base, finding the right content fit and an increased number of Netflix originals
Netflix is dedicated to bringing captivating original content and beating global competitors like Amazon Prime Video, Disney+ Hotstar and a range of Indian streaming services like Zee5 and AltBalaji. Keeping this in mind, Netflix is devising new plans to increase its user base in the country, as revealed in the company's Q1 2021 earnings call on Tuesday.
Reed Hastings, co-founder and co-CEO of Netflix, stated that the main focus for the streaming service in the Indian subcontinent is "getting a content fit". This will accommodate a bigger pool of genres.
"India, we are still figuring things out. And so that investment takes some guts and below forward-looking… that one (India) is a more speculative investment than, say, Korea or Japan, which again, five years ago was very speculative when we did those. But we have got off, we are over the hump on that. We have got a great match,” said Hastings.
Spending a whopping Rs 3,000 crore on Indian content through 2019 and 2020, Netflix founders clarified that they plan on “programming the service (in India) in a way that consumers value it and love it”.
Monika Shergill, vice president, content at Netflix India, shared that the 2021 content slate was nearly three times the one curated by the platform in the last few years. When Netflix's line-up was unveiled earlier this year, it included over 40 Indian originals. This content was aimed to deepen Netflix's reach in India.
“I would just add that India is a tremendous opportunity. And it’s just, like all great opportunities, it’s a long journey, and it’s a challenge. And we think it’s worth it,” stated Theodore A Sarandos, co-CEO & chief content officer and director.
In a letter to shareholders, Netflix had recently reported that it is back to producing safely in every major market except Brazil and India.