Industry executives suggest that Netflix is on the verge of launching in India.
Netflix announced that it has plans to expand in India in the upcoming year. The internet TV firm was expected to launch its services in India in the first few months of 2016. Prior to its launch in the region, the company has already decided to work on an Indian content for the very first time since its inception. The only reason was to engage with the Indian audience and to create hype prior to its entry in the market.
According to the industry executives of India, it is believed that the vigorous global expansion of Netflix is all set to reach India finally. There was crazy demand for a long period of time and the streaming giant, at last, is fulfilling the requirements of its consumers throughout the globe. The company expects to be in every single country by the end of this year. The streaming service provider is basically expanding almost everywhere where there is high speed internet connectivity as well as good population. Netflix realizes that India is an important market for its business as majority of its population are known for paying ‘pennies for their latest Bollywood fix’.
The streaming giant was in immense pressure lately when it faced troubles in its home country where its user growth stalled surprisingly. The company failed to add estimated new users due to slow growth. This is why the NFLX opts for plan B i.e. to grow internationally and in the second largest populated country, India. Sources suggest that more than 1.3 billion people are usually online in India and this is considered as one of the biggest steps for Netflix in Asia.
As IBN Live reports, “Netflix declined to comment on its plans but industry executives told Reuters they expect an India announcement as early as this week at the Consumer Electronics Show in Las Vegas, where co-founder and Chief Executive Reed Hastings is scheduled to talk about the company's international expansion.”
According to an analyst at Counterpoint Technology Research, Tarun Pathak, stated that the internet TV firm is entering India at the right time. The trend of using internet and watching movies is significantly upwards. Various studies show that most Indian users access their smartphones for going online as they have the latest 4G mobile internet technology easily available to them. “We expect at least one in two mobile devices sold this year to be 4G equipped,” Mr. Pathak added.
Netflix has said to be working on more Indian content in the near future.
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