Netflix CEO Reed Hastings on a visit to India said that the streaming video giant will spend $400 million on original and licensed Indian content over the course of 2019 and 2020, but didn’t share subscriber numbers. Details:
While not sharing the streaming giant's subscriber numbers in India, he said it was still"early days" for Netflix in the country.
In a wide-ranging discussion, Hastings on Friday also revealed that some of the Indian content on the platform is finding wider acceptance beyond India, among its global audience of nearly 160 million subscribers as of the end of September., which he said has been viewed by 27 million households outside of India.
Since its launch in India in 2016 as part of its global rollout in 190 countries, Netflix has been building up its local slate, starting with its first Indian original traveled all over the world," Hastings said about the underworld drama, which is based on the best-selling book of the same name by Vikram Chandra., directed by Ritchie Mehta, which was based on the police investigations behind the real-life brutal gang rape of a young woman in Delhi in 2012.
"If we have amazing content from around the world, people are willing to pay for that," Hastings said Friday, referring to the company's mobile-only plan for India. "In the U.S., cable television costs about $75. Here [in India] it’s about $3-$5," he said. "In the U.S., people pay $50 for mobile phone access. Pricing is very low here, and the market is very large. That’s why our 199 rupees a month pricing is very competitive.
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