NEW DELHI,NOV 11:
Netflix is betting big on India for its global expansion. The company aims to add about 100 million subscribers from India alone as it aims to tap the Asian market with original content and affordable subscription rates. Netflix has over 50 million users in the US?and roughly 137 million subscribers globally.“If you think about the opportunity, there’s about 450 million internet users in India and about half of them are watching video on YouTube and services like that, which makes for a very interesting, addressable market,” said Netflix’s chief content officer Ted Sarandos told CNBC on Thursday.The company, however, faces a strong competition from the likes of Amazon which has also big plans for India. Amazon already offers Prime Video and Prime Music services along with a wide range of Alexa-powered Echo devices. The hardware catalogue includes Fire TV stick that supports popular streaming applications like Sony Liv and even Netflix.Netflix is also competing with the local players like Hotstar and AltBalaji which have already gained popularity in the budding online streaming space. The success of these players including Amazon is mainly driven by affordable subscription plans and cross-platform licensing deals.
