The ongoing battle between Comcast Corp and Walt Disney Co over control of Tata Sky, an Indian pay TV network, as part of their fight for Twenty-First Century Fox Inc, is indicative of the growth potential of the country’s more than 1 billion viewers.
Upping the stakes against its peer, Amazon Prime, Netflix Inc premiered its first original series in India as part of an effort to tap into the country’s more than 1 billion potential viewers.
Just like in the U.S., Netflix has rightly figured out that creating local content is key in winning viewers in India, one of the biggest economies in the emerging market which could potentially be its growth engine over the next decade.
Its original series, a Hindi thriller set in Mumbai named “Sacred Games” is set to be launched less than a month after the success of its Indian film “Lust Stories”.
The move comes at a time when U.S. heavyweights Walt Disney Co and Comcast Corp are vying for control over Tata Sky, an Indian pay TV network, as part of their fight for Twenty-First Century Fox Inc.
Both of the original series, “Lust Stories” and “Sacred Games”, aim to bridge Western styles and values with the rich tapestry of India’s massive domestic film industry.
In 2018-2019.Netflix is likely to spend $8 billion on original content and this figure is set to rise much higher as it seeks to cement its position as a leader in the content streaming industry globally.
In 2017-2018, Netflix’s international streaming revenue grew by more than 58%, according to its latest filings.
With China’s heavily censored market proving a hard nut to crack, India is likely to be the growth engine for its growth. Netflix plans to release at least 3 more original contents this year compared to Amazon’s 10.