The Financial Times has a good piece on video-streaming service Netflix’s ambitions in India where it’s starting to invest more money in original shows and films.
It quotes CEO Reed Hastings speaking at a Delhi conference, saying “Even we couldn’t have predicted the last two years of Indian internet growth” and adding that in terms of Netflix subscribers “the next 100 million is from India”.
There’s a way to go on that: the FT quotes the latest estimates from research firm IHS Markit, which thinks Netflix ended 2017 with around 522,000 subscribers in India, not far behind Amazon Prime Video’s 610,000, but considerably lagging the leading video-streaming service in India, Hotstar, which had 1.6 million.
Still, Netflix is bullish about the opportunity: “We are carried away with enthusiasm by India. We think it will be one of our biggest sources of growth over the next few years,” said VP of product Todd Yellin.
There’s a contrast here with the music-streaming market, with Spotify yet to launch in India, and other global services going up against strong local players like Saavn and Gaana – with YouTube’s surging usage in India also a big factor to consider.
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