Netflix To Invest Rs 3000 crore In Indian Original Content
Speaking at the Hindustan Times Leadership Summit 2019 in Delhi on Friday, Netflix’s founder and Chief Executive Officer, Reed Hastings, revealed the company's plans for creation of original content for the country.
.@netflix CEO @reedhastings at #HTLS2019: "We will spend Rs 3000 crore this year and the next to develop new content in India"— Hindustan Times (@htTweets) December 6, 2019
Watch full discussion here: https://t.co/Z8DldptU5o#BetterTomorrow pic.twitter.com/sQNl1YejdQ
A fascinating interaction with @reedhastings Founder & CEO, Netflix. Audiences have been demanding more Indian stories, with 53% of audiences watching local content as compared to foreign titles. There will be a massive growth in spending on local content. Future=Indian Stories! pic.twitter.com/y0iCrFO2x7— Amitabh Kant (@amitabhk87) December 5, 2019
“We are only getting started here and the centerpiece of our story is content," the CEO said. Netflix’s big Indian successes, this past year, have been Sacred Games, Delhi Crime, Little Things and animation show, Mighty Little Bheem, Hastings said. Netflix launched in India in 2016, and has since invested in local content in Hindi and other local languages. “Sacred Games travelled all over the world,” Hastings said, adding that the animated children’s show Mighty Little Bheem has been viewed by 27 million households outside India. “People like babies in many countries,” he added. While the streaming service has 160 million subscribers globally, it hasn’t revealed its India numbers yet.