Netflix has continued its heavy betting on India which is among the largest entertainment markets in the world as it is competing with over three dozen rivals in the country and one of them is Disney.
The CEO of Netflix, Reed Hastings, has said on this Friday that the company is in the process of spending $420.5 Million on the production and licensing of content in the country this year as well as next year.
In a conference which was going on in New Delhi, he said that in this year and in the next year, they are going to spend an amount of 3000 crores rupees in the development & licensing of content and the viewers will be able to see a lot of stuff which is going to be available for them.
This revelation has become a topic that is being discussed very quickly in the country and in the world. The rivals have been taken aback by this investment as it is more than the investment which the rivals have made by quite a significant margin and none of its other rivals have reportedly the plans of spending anything close to this figure on content creation.
The figures are not clear yet; however, there is estimation in a report by KPMG which says that Hotstar is going to spend close to $17 Million on creating seven shows in the current year while Eros Now has decided to put $50 Million in the creation of a 100 new shows which are original.
Netflix ever since its entry into the Indian market has been producing original shows & movies and tied up with many local brands like Red Chillies Entertainment of actor Shah Rukh Khan.
Charles is a Chief Marketing Manager at our company. He is good at content marketing, his job duties include all social media-related marketing, blogging, and publishing related operations. Charles is with us from last 5 Years and has pursued a post-graduate diploma in marketing management. In his free time, he guides team-mates regarding business and share thoughts on media-related content.