Netflix has expressed its strong intent to capture more customers in India. This has been announced by Ted Sarandos, the company’s chief content officer.
Experiencing Netflix’s “aggressive push” on its entertainment market, streaming enthusiasts will enjoy more movies and TV series.
Increased content production is a part of the streaming service giant’s agenda. At a masterclass held as a part of the Mumbai Film Festival, Sarandos revealed that Netflix has ten original contents with production currently in progress.
As he presented “Roma” by director Alfonso Cuarón at the biennial event, Sarandos said that six original movies are included in the coming year’s lineup as well.
Among these upcoming Netflix original content consist of “Leila,” “Crocodile,” “Midnight’s Children,” and “Selection Day.”
The Netflix executive confirmed that the audience could expect for more new content like “Again, “Bard of Blood,” and “Baahubali: Before the Beginning.”
In addition, Netflix customers can expect subscription price reduction in the coming months. For $6.83 monthly, subscribers can relish a wide variety of Netflix content.
The OTT firm has now over five million customers in India. Amazon Prime Video, however, is leading due to its more affordable monthly subscription fee of $1.76.
Furthermore, based on the statistics by Counterpoint Research, the streaming offering of the retail giant is patronized by 11 million customers in the country.
Sarandos pointed out that the costing of Netflix subscription centers on “value sensitivity.” This means that the subscription prices depend on how much content a paying customer intends to view.
He cited that determining the proper subscription price value is a component of Netflix’s consumer science.
By noting that price sensitivity is not a point of concentration, Sarandos said that the streaming provider adjusts subscription fees in all the countries it is serving to suit its members better.
Hotstar dominates the Indian OTT market. The streaming division of the now Disney-owned 21st Century Fox has more than 75 million customers in the country.
Since Netflix was introduced in India in January 2016, the over-the-top (OTT) service’s investment in licensing of movies and TV series from the country has developed more than twofold.
Sarandos remarked that this is a bellwether of a “vote of confidence” that Netflix can be successful in the world’s second most populous nation.