how Netflix grow in Indian market
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Netflix (NFLX) is now writing its international growth story, and India has a significant role in it. CEO Reed Hastings declared his plans to invest 30 billion Indian rupees (or $420 million) in India, reported Bloomberg on December 6. The expenditure, which Netflix plans to do this year and next year, is to focus on local content. To get an edge over home-grown rivals, the company feels it is crucial to strike the right chord with the audience.
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Hastings said, “We got one eye to being very local and authentic and one eye to what will be shared around the world,” noted Bloomberg. “But that is the advantage of Netflix to be able to produce in India and share that,” added Hastings. Notably, Netflix plans to invest in Indian content and share it around the world.
Citing industry sources, TechCrunch revealed that this move is by far the most significant investment by any streaming service in India. It also cited a KPMG report, which indicated that Hotstar would invest $17 million in seven original shows. It also stated that Eros Now would spend $50 million for one hundred originals.
Netflix has targeted content spending of $15 billion this year. And Hasting’s new plan indicates that about 3% of the total expenditure will be toward Indian content.
Indians have an affinity for vernacular content
India has vast linguistic diversity. An article by Media India Group, citing a finding by KPMG, states that about 95% of video consumption in India is vernacular.
The country’s audiences have matured and developed a taste for diverse genres of global programming. However, a broader base of viewers still prefers regional content, something with a local flavor.
Therefore, Netflix aims to offer shows in several languages to be ingrained in Indian culture. In an interview, Reed Hastings said he wants the process to be step-by-step, notes Live Mint. He said, “First, we have to be very strong in Hindi and English. Then, get into Telugu and Tamil and many other vernacular languages.”
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Netflix started providing many entertaining films and series all over the world.but in India many of them are spending the time watching Netflix.. there is a huge profit for Netflix from India alone.. since many of them are online all the day...
but these apps like Netflix is wasting the time of the Indians.. who are capable of doing many things..