The video streaming platform Netflix has a mission to expand its audience in Asia, but the country that could help it to reach this growth is India not China.
“The country with the youngest and increasingly technology-oriented population is an “incredible opportunity” to increase the number of international subscribers”, said Netflix Chief Director, Ted Sarandos.
The service subscriptions in Asia are already over 58 million in the US. Globally, the company has 137 million subscribers.
“We are in our early, very early days in Asia”, said Ted Sarandos, but he says the company has “very special initiatives” for each of the territories in the region.
Key among them will be India, according to the Netflix Chief Director. Netflix hopes to grow in the next few years thanks to the interest of people in India to video streaming, attracting 100 million subscribers from the country.
“If you think of the opportunity, there are 450 million internet users in India, and about half of them watch YouTube videos and similar services, making it a very interesting market”, said also Ted Sarandos
Targeting India, Netflix will face players like Amazon and Hotstar who are already enjoying success in the country with their relatively cheap streaming offerings.
To respond to this, the company tested different pricing models to position itself well in terms of competition both in India and elsewhere. According to Ted Sarandos, the focus will be on offering more locally created original content to meet consumer demand both domestically and internationally.
Netflix plans to produce 100 original projects in the region in the coming years.
According to Ted Sarandos, “there is no real goal” with regard to the regions from which these projects will come. However, he says the company is not planning such an approach to enter the Chinese market in the near future.