In India OTT(Over The Top) platform entertainment provider market is dominated by Disney+ Hotstar with 43 million subscribers, followed by Netflix with 5 million subscribers and Amazon Prime with 17 million subscribers.
Netflix India reduced its subscription plan prices by 18% to 60% in India with the intention of increasing its user base but compared to others still priced higher than most of its competitors in India. India being a price sensitive market this action definitely add more paid subscribers.
Recently Mr Hastings told that “the great news is in every single other major market, we've got the flywheel spinning. The thing that frustrates us is why we haven't been as successful in India. But we're definitely leaning in there".
To boost its presence in India Netflix is planning to increase more and more Indian content to its subscribers.
- With this plan Netflix is partnering with Anushka Sharma and Karnesh Ssharma's production house Clean Slate Filmz with a deal worth about ₹400 crore ($54 million).
In this partnership Clean Slate Filmz will release eight films and series on streaming services in the next 18 months.
- Netflix has entered into a multi-year partnership with Mumbai-based Excel Entertainment headed by Ritesh Sidhwani and Farhan Akhtar.
Under the deal, the both will produce a variety of projects now it will commence with Dabba Cartel and Queen of the Hill.
- Netflix also partnered with RIL Jio and recently with Tata play (Previously Tata sky) will gain subscribers and more concreate business for Netflix in India.
- Previously Netflix has also partnered with the digital content arm of Viacom18 Tipping Point Studios.
With all this Netflix planning to increase its user base in India and also facilitate to take Indian content to global audience.
Clean Slate Filmz:
It is established by actress Anushka Sharma and her brother Karnesh Ssharma 2013, in Mumbai, it mainly produces and distributes the Hindi films and web series.
Both Sharma’s "Believe in and audiences love while supporting exciting hot new talent.
It already produced NH10, Phillauri, Pari, Paatal Lok, Bulbbul.
Excel Entertainment:
Founded by Ritesh Sidhwani and Farhan Akhtar in 1999. Based in Mumbai.
They partnered with amazon prime in India's first original series Inside Edge.
It produced Dil Chahta Hai, Rock On, Zindagi Na Milegi Dobara, Lakshya, Toofaan and the Don franchise and others also.
Closing points:
There has been an exceptional surge over SVOD (subscription video on demand) content over the last few years and is expected to overtake the AVOD (advertising-based video on demand).
According to a report, the Indian Media and Entertainment industry has revived to pre-COVID stage and is expected to grow to USD 55-70 billion by 2030 with a CAGR of 10 to 12 per cent, driven dominantly by strong growth in OTT, Gaming, Animation and VFX.
The Indian OTT streaming industry is expected to grow to USD 13-15 billion over the next decade at a CAGR of 22-25 percent.
By this the Indian entertainment market will be expanding enormously in coming years.
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