Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

'Next big leap': Netflix to offer 41 new shows to lure Indian viewers

Published 03/03/2021, 08:11 AM
Updated 03/03/2021, 08:15 AM
© Reuters. FILE PHOTO: A smartphone with the Netflix logo lies in front of displayed "Streaming service" words in this illustration
DIS
-
AMZN
-
NFLX
-

MUMBAI (Reuters) - Netflix (NASDAQ:NFLX) said on Wednesday it would release 41 shows and films in India this year, calling the move its "next big leap" in the world's second most populous nation where video streaming services have become more popular.

India, with its 1.3 billion people, is a vast and valuable market for the U.S. streaming service and its rivals Amazon (NASDAQ:AMZN)'s Prime Video and Walt Disney (NYSE:DIS) Co's Disney+ Hotstar.

The platforms, which are all offering an increasingly broad range of local language content, have been luring users with cheaper billing plans and offers.

Netflix's new roster of 41 titles includes films with top Bollywood actors, stand-up comedy shows and original series, the company said in a blog post. Most will be in the Hindi language.

"We are taking our next big leap in India," Netflix said on its post, saying the upcoming lineup "features more variety and diversity than we have seen before".

India, whose Bollywood film industry makes more productions each year than Hollywood, remains a challenging market for the streaming services.

Amazon's Prime Video has become embroiled in legal cases and police complaints over a political drama "Tandav" deemed offensive to Hindu religious sentiments. The U.S. service has apologised to viewers over some scenes.

Netflix has also faced court cases and complaints over some its content, with some viewers saying it promoted obscenity or hurt religious sentiments.

Netflix said some of its 41 shows to be released this year would be produced by India's Reliance Entertainment, Viacom18 and Bollywood director Karan Johar's Dharmatic Entertainment.

© Reuters. FILE PHOTO: A smartphone with the Netflix logo lies in front of displayed

In 2019, Netflix said it planned to invest almost $400 million to develop content for India. Reuters reported last year that Netflix was in talks with Viacom18 to create shows to help expand its offerings in India.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.