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Tag: India market

  • Netflix’s India ambitions surpass Rs 3000 crore investment

    Netflix’s India ambitions surpass Rs 3000 crore investment

    Mumbai: Global streaming platform Netflix will pump more money into producing content in India, said chief executive officer Reed Hastings. The key executive of the streaming giant was speaking to Business Today’s global business editor Udayan Mukherjee in an interview.

    The company has already pumped in Rs 3,000 crore in the past two years to develop original programming, particularly focused on local content, and more investments are in the offing. “India as a market is witnessing explosive growth in video content viewership over the past couple of years – partially propelled by people having to stay home because of the Covid-19 pandemic,” Hastings said.

    The competition in India’s OTT arena is heating up with HBO Max service expected to hit the subcontinent early next year. Hastings sees the competition differently, saying that services such as YouTube and TikTok are the platform’s biggest competitors. But instead of focusing on the competition, he chooses to focus on the next big show that everyone could be talking about.

    “Netflix has emerged as one of the prime contenders for the consumer’s wallet. Over the past five years, the brand has established instant recall in the minds of the Indian consumer,” he said. “What’s great about the Indian market is that Hotstar started so early and pioneered streaming in India. It has really increased the market size, and then Reliance Jio transformed it with regard to access and cost, democratised it. So, they created the base for the market which is today one of our top global priorities.”

    According to a report by Media Partners Asia, the Indian OTT industry is expected to spend $ one billion on content out of which 45 per cent will be local and original content. Reports estimate that the OTT platform has more than five million Indian subscribers. 

    Hastings admitted that Netflix’s journey in India has been harder than was initially anticipated, but he revealed the company’s determination to overcome those challenges through its continued commitment to the Indian market and simply by investing more. He also highlighted that Netflix, which has strong premium imagery in the consumer’s mind, is also focused on providing greater affordability to Indian subscribers.

    The interview will be aired on 17 September at 10:30 p.m on Business Today Show with Udayan Mukherjee.

  • Mobile broadcast app Bigo Live increases focus on India market

    MUMBAI: In a bid to capture India’s fast-increasing mobile Internet user base, Bigo Live, a mobile broadcasting app, organized its first-ever broadcasters meet-up in India recently. Bigo Live, through real-time interaction and video streaming, allows users to live broadcast their talent and connect with their fans and other talented broadcasters as well as follow interesting broadcasters. The company also announced the introduction of VLOG, a Video recording feature on its app at the India meet-up in Delhi. Bigo Live boasts of over 100 mn registered users globally.

    Bigo allows users to watch live broadcasting anytime, anywhere and engage with the audience via live sessions. The platform gives a chance to live stream the performances, broadcast what you are good at and let people enjoy based on the core values of integrity, innovation, proactiveness and openness. The company plans to build a stage for dreamers to pursue their dreams, for people to make friends at home and abroad; and to build a platform where hobbies are aligned with careers, to record and share interesting moments with friends.

    Talking on his maiden visit to India, Eric Liu, Senior Director, BIGO Technology Pte Ltd said, “We aim to build a Bigo community in the world by providing a platform for the young & fashion conscious to come together and share their interests. BIGO LIVE has attracted millions of social media-savvy millennials across the globe since its launch in March 2016. We already have strong presence in countries like Vietnam, Indonesia, Thailand, Russia, Middle East, Malaysia, America and we aspire to reach out to more countries in future. We are confident that our app will be able to capture the imagination of the young and trendy in India as well.”

    India’s Famous and most awarded Radio Jockey Khurafati Nitin was also present at the event as the Guest of Honor for the evening. In his speech Khurafati Nitin said, “There is a lot of potential in the Bigo Live app and I foresee it to be one of the prominent emerging social networking and internet platforms in the future.” “BIGO Live is fun, entertaining and keeps me hooked. I already have few favorites on the app and am myself planning to start going live soon on Bigo Live,” he added.

    The very first meetup of Bigo Live got 100+ Broadcasters, Internet sensation and new age media’s presence at the venue. Some BIGO broadcasters travelled 10 hours to participate in the very first Bigollywood Night. Opening his heart out one of the broadcaster Mr. Vibhu, a lawyer by profession stated“Bigo Live has provided me with a platform to showcase my talent to the world and I enjoy broadcasting for more than three hours every day on Bigo Live.”

    Another broadcaster duo of siblings Gaurav and Twinkle shared, “We have been addicted to the Bigo Live app and enjoy showcasing our singing talent on this wonderful platform. Despite being from a small town in Himachal we are now able to connect and showcase our talent to the entire world.”

    Broadcasters can earn virtual gifts and bonus points that can be exchanged for rewards on the app. Bigo Live enables you to engage in Real-time Interaction via Mobile streaming with your audience and chat with your favorite broadcasters while you are watching Live broadcastings anytime and anywhere.