Why is Netflix trying so hard to capture Indian audience?
India has become a prominent market for streaming services like Netflix and Amazon. With the country being the world’s second-largest internet market, it has shown that it has tremendous potential to the streaming services.
Netflix being one of the major streaming service provider has been trying hard to woo the Indian audience. The international segment(viewers) as a whole is over 60 million and India is a key part of the same. After producing cult hits like ‘House of Cards’ and ‘Stranger Things’, it is playing a havoc in the entertainment industry.
But why is the Indian market so important?
For Netflix international viewers are very important. Especially when they amount to about 52% of the overall revenue of the company. And the online Indian video market is valued at $700 million and is expected to grow to $2.4 billion in value by 2023. With such drastic figures, it is obvious that it wants to grab its share in the Indian market.
Promotion of Local content
With its recent release of Sacred Games, Netflix has started producing local content for the Indian viewers. One cannot ignore the fact that India in recent years has produced incredible shows in the online streaming sector. The Indian content and the Indian factor in itself being shown at a global level would attract a lot of viewers.
Let’s also not forget that for the newer generation the whole saas-bahu sagas on Indian television has been quite tiring. So, opting for Netflix or Amazon does not seem like a bad choice when they provide way better content and material.
Netflix has invested a lot in the Indian market. And a number of shows are going to be released in the near future. However, it may not be possible to beat the competition it is facing in India. With companies like Hotstar, ALT Balaji providing free shows while Netflix is quite a costly affair.
Netflix has managed to have more than 5 million subscribers. And the number is definitely going to increase in next few years. It has realized that there is quite a lot of strength in the local market of India and providing that a global platform will just benefit their own revenues.