According to a report in The Times of India, Netflix will be launching its streaming TV service in India sometime during next year in 2016.
The news has been leaked by sources close to the Netflix chain of command, and the new service in the country is expected to stream shows such as Buniyaad, Nukkad, and Malgudi Days. These shows hold a special place in the hearts of Indian audiences, having been iconic television series during the 1980s and 1990s. Their inclusion in Netflix’s catalog is a strategic move to attract a broad spectrum of viewers, from nostalgic older generations to curious younger ones.
Expanding Global Reach
The new Indian service will be available on both Android and iOS devices, as in other countries, helping the company expand its already massive 62 million Netflix subscribers worldwide. This move is part of Netflix’s broader strategy to penetrate emerging markets and diversify its subscriber base. India, with its rapidly growing internet user base and increasing smartphone penetration, represents a significant opportunity for Netflix. The company has been eyeing the Indian market for a while, recognizing the potential for substantial growth.
Netflix has been contacted regarding the leaked news, with a spokesperson commenting:
We have said we plan to be nearly global by the end of 2016. We have nothing else to share at this point.
Challenges and Opportunities
While the potential for growth in India is immense, Netflix will face several challenges. The Indian market is highly price-sensitive, and Netflix’s subscription fees may be considered steep compared to local competitors like Hotstar, Amazon Prime Video, and regional streaming services. To address this, Netflix might consider offering localized pricing strategies or introducing more affordable subscription tiers.
Moreover, content localization will be crucial. Indian audiences have diverse tastes, with preferences varying significantly across different regions and languages. Netflix will need to invest in creating or acquiring a substantial amount of regional content to cater to these varied tastes. Collaborations with local filmmakers and production houses could be a strategic move to build a robust content library that resonates with Indian viewers.
As soon as more information is made available by Netflix or is leaked by sources close to the action, we will keep you updated as always.
Source: TNW : The Times of India
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