Netflix has placed its focus on the global market for a while now, especially with Disney+ emerging as a major competitor for the US market.
Now it’s clear Netflix wants to invest in India, where the platform has a number of rivals, including Disney.
Reed Hastings, chief executive of Netflix, has recently revealed that the company will be spending $420 million on producing and licensing content in India for 2019 and 2020.
At a conference in New Delhi, he said: ‘This year and next year, we plan to spend about Rs 3,000 crores developing and licensing content and you will start to see a lot of stuff hit the screens.’
According to TechCrunch, an executive from one of the top five rival services said to them: ‘This is significantly higher than what we have invested in content over the past years.’
A recent report from KPMG has estimated that rival Hotstar is spending around $17 million on seven original shows. Meanwhile, Eros Now has spent around $50 million on its India business and the creation of 100 new original shows.
