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Tag: Ted Sarandos

  • Big growth in viewing in India led by originals: Netflix’s Ted Sarandos

    Big growth in viewing in India led by originals: Netflix’s Ted Sarandos

    MUMBAI: Last year, Netflix rolled out a mobile-only plan in India to suit the country's preference for smartphones over laptops. Moreover, it was a way to delve deeper into a market where its basic Rs-500-a-month subscription plan was sharply expensive compared to homegrown OTT giants. The bet got the success it hoped for and Netflix followed the footprint in other markets as well. After nearly a year, the streaming service seems satisfied in the uptake of mobile-only plans as well as its overall growth here.

    “It's a plan (mobile-only plan) that we've tested for a while and we have rolled it out now in a bunch of countries: India, Malaysia, Indonesia, Thailand and the Philippines. And it's consistent with the broad theme and goal that we have which is why we're seeking effective ways to make the Netflix service more accessible to more and more people around the world,” Netflix chief product officer Greg Peters said in an earnings call.

    This strategy has helped Netflix witness a significant increase in acceleration and addition of new members. From a revenue perspective, it's also helping the company go from "neutral to positive", which Peters says will be good in the long term for the business.

    While all streaming players have witnessed magical growth in users during this COVID-19 lockdown, everyone is keen to know about Netflix’s growth in the period. Peters said he would not draw any strong contrast between India and other countries around the world. He mentioned that it is putting high effort to make the offering more competitive and attractive to members.

    “We've seen a big growth in viewing in India and have had great success for our local originals. Most recently was She andGuilty and a few others have been driving a lot of engagement in local content on our India service and they also are big fans of our global original content like Lacasa de Papel. So we're growing the business of licensed originals, international and domestic, across the board,” Netflix chief content officer Ted Sarandos said.

  • Netflix adds whopping 15.77 mn subscribers during lockdown, warns of future growth decline

    Netflix adds whopping 15.77 mn subscribers during lockdown, warns of future growth decline

    MUMBAI: Netflix has brought good news for its investors with a high jump in subscriber growth. The streaming service added a net 15.77 million paid streaming customers in the first quarter of 2020, much higher than the previous guidance, due to the worldwide lockdown. However, it has also warned of a decline in viewing and growth further down the road as governments will lift the home confinement orders with progress against COVID-19.

    “Our internal forecast and guidance is for 7.5 million global paid net additions in Q2. Given the uncertainty on home confinement timing, this is mostly guesswork. The actual Q2 numbers could end up well below or well above that, depending on many factors including when people can go back to their social lives in various countries and how much people take a break from television after the lockdown,” the company stated in a letter to its shareholders.

    “Some of the lockdown growth will turn out to be pull-forward from the multi-year organic growth trend, resulting in slower growth after the lockdown is lifted country-by-country. Intuitively, the person who didn’t join Netflix during the entire confinement is not likely to join soon after the confinement,” it added.

    Netflix founder-CEO Reed Hastings later said in an earnings call that the long-term implication is still tough to predict as the world is grappling with uncertainty. But he also added that they are certain about "internet entertainment's" growth in people's lives and it will be gradually more important in the next five years.

    In its first quarter report, the streaming service reported revenue along the line of guidance despite nearly double growth of subscribers as sharp rise in dollar has offset international revenue. The revenue for the quarter was at $5.77 billion, while net income stood at $709 million with EPS of $1.57. 

    As it has paused most of its productions across the world in response to the crisis, the impact will be less cash spending this year as some content projects are pushed out. This will shift out some cash spending on content to future years. Netflix hopes this dynamic may result in more lumpiness in its path to sustained free cash flow profitability. 

    “The one thing that's not widely understood is that we work really far out, relative to the industry, because we launch our shows all see all episodes at once, and we're working far out all over the world. So our 2020 slate of series and films are largely shot, and we are in post production remotely in locations all over the world. So, and we're actually pretty deep into our 2021 slate. So we're not anticipating big moving things around,” Netflix chief content officer Ted Sarandos commented in an earnings call on the production stoppage’s impact on Netflix.

    However, the streaming giant remains equally uncertain about when production will resume. But it has emphasised that it will look for the ability to test for the virus, work with production partners and local governments. It will also try to learn from its current experiences in Iceland and South Korea where productions are still on and will apply the same to other geographies, as Sarandos shared.

  • Netflix Announces Eight New Original Films And One New Original Series From India

    Netflix Announces Eight New Original Films And One New Original Series From India

    MUMBAI: Netflix concluded its inaugural content event in Asia, “See What’s Next: Asia” with a celebration of the company’s rapidly growing diverse content slate in India. Netflix CEO Reed Hastings and chief content officer Ted Sarandos joined performers and creators from India to announce eight original films and a new original series. The showcase also included updates on four Indian original series that were previously announced.

    “We celebrate India today with an incredible line-up of original films and series that are right now filming across India. This line-up cuts across genres from horror to fantasy and in locations from Leh to Mumbai. The breadth of stories with its local settings and complex characters is incredible and we can’t wait for people to discover and fall in love with them,” said Ted Sarandos, Chief Content Officer for Netflix.

    The “Celebrating India” session at the event saw media and influencers from 11 countries across Asia witness the breadth and depth of Netflix Indian Originals. The updates on four original series include:

    · A trailer for Rajma Chawal, a humorous family drama set in Chandni Chowk, New Delhi, which is set to release globally on Netflix on November 30, 2018. Rishi Kapoor, Amyra Dastur, Aparshakti Khurana and Anirudh Tanwar act in the film, directed by Leena Yadav. [Link to trailer here]
    We kindly ask that you link www.netflix.com/rajmachawal in your coverage.

    · A teaser trailer for Selection Day, a series based on Aravind Adiga's book of the same name. Produced by Anil Kapoor Film Company and Seven Stories Ltd,  Selection Day is a coming-of-age drama about two brothers who are raised by their strict, obsessive father to be star cricket players. [Link to trailer here]
    We kindly ask that you link www.netflix.com/selectionday in your coverage.

    · The cast of upcoming series Baahubali: Before the Beginning, with Mrunal Thakur as Sivagami, Rahul Bose as Skandadasa, Atul Kulkarni, Vaquar Shaikh, Jameel Khan, Siddharth Arora and Anup Soni.
    We kindly ask that you link www.netflix.com/baahubali in your coverage.

    · The cast of Leila, a dystopian fiction series produced by Deepa Mehta, including Huma Qureshi in the title role and Siddharth Suryanarayan.
    We kindly ask that you link www.netflix.com/leila in your coverage.

    Netflix rounded off these updates with the announcement of a new original series:

    Typewriter is about a haunted house and a haunted book that stir the imagination of a group of young, wannabe ghost hunters, and a dog, determined to capture the ghost that plagues the notorious home in their neighbourhood in Goa. When a new family and their captivating daughter move into the haunted home, the crew finds it difficult to balance the demands of school and chores with the renewed urgency to capture the neighbourhood ghost before it is too late.
    We kindly ask that you link www.netflix.com/typewriter in your coverage.

    Underlining its investment in original films in India, Netflix unveiled eight new original Indian films spanning genres and involving the best of established and new Indian talent:

    Chopsticks is about an under-confident but talented girl, sidestepped at every stage of her life, who seeks out an enigmatic con to help recover her stolen car from a goat-loving, crazy Mumbai gangster. In the process, she finds her confidence and place in the sun. Along with Mithila Palkar who won hearts in Netflix series Little Things 02, Abhay Deol and Vijay Raaz will act in the film. Chopsticks is produced by Ashvini Yardi of Vineyard Productions and directed by Sachin Yardi.

    We kindly ask that you link www.netflix.com/chopsticks in your coverage.

    Bulbul, produced by Anushka Sharma and Karnesh Sharma’s Clean Slate Films, is a period piece set in a vibrant atmosphere amidst age-old beliefs and superstitions. Satya and his brother’s child bride, Bulbul, were inseparable until he was sent to England for his education. On his return, he finds Bulbul has been abandoned by his brother and now lives a solitary existence as the enigmatic lady-of-the-palace, dedicating herself to the welfare of the people. But their ancestral village is plagued by mysterious deaths and stories of a haunting by a woman who lives in the trees. Satya must find the truth behind the lore and save his village from the evil “chudail with the inverted feet”.

    We kindly ask that you link www.netflix.com/bulbul in your coverage.

    Upstarts is a bromance about three college graduates from small-town India, captivated by the startup mania sweeping the country. As they enter the rollercoaster startup ecosystem of big dreams, big money and bigger sharks, they are faced with a big choice – their dreams, or their friendship. Directed by Udai Singh Pawar, Upstarts is produced by Raja Menon, Janani Ravichandran and Jawahar Sharma of Bandra West Productions. This film is supported by real-life heroes from the startup world in Bengaluru.

    We kindly ask that you link www.netflix.com/upstarts  in your coverage.

    Cobalt Blue, based on the best-selling novel of the same name, is the story of a brother and sister who fall in love with the same man, and how a traditional Marathi family is shattered by the ensuing events. This story brings out the pain and the beauty of forbidden love, and is written and directed by Sachin Kundalkar.

    We kindly ask that you link www.netflix.com/cobaltblue  in your coverage.

    15th August, produced by Madhuri Dixit, is set in a Mumbai chawl, and follows the course of a single day as its residents prepare for the flag-hoisting ceremony. This Marathi film is about the struggles of middle-class India and in a soaring climax, it is about how love sets us free.

    We kindly ask that you link www.netflix.com/15august  in your coverage.

    Music Teacher, directed by Sarthak Dasgupta, is a story about an emotionally troubled music teacher, essayed by Manav Kaul, who gets a chance to come to terms with his bitterness with an estranged student, now a renowned celebrity singer of Bollywood. The music teacher vows to get back everything he lost in the past risking all his achievements in the present day.

    We kindly ask that you link www.netflix.com/musicteacher  in your coverage.

    Hotel Mumbai tells the astonishing true story of the victims and survivors of the devastating attacks on Mumbai in 2008. The film directed by Anthony Maras stars Dev Patel, Armie Hammer, Nazanin Boniadi, Anupam Kher, Jason Isaacs. This film is available on Netflix in the SAARC region only.

    We kindly ask that you link www.netflix.com/hotelmumbai  in your coverage.

    Firebrand, directed by Aruna Raje and produced by Priyanka Chopra, Firebrand is a Marathi Film that follows a successful lawyer, a sexual assault victim played by Usha Jadhav, as she tackles difficult family cases while also dealing with intimacy issues in her own marriage. Girish Kulkarni essays the role of her husband Madhav Patkar, an architect by profession. Sachin Khedekar and Rajeshwari Sachdev play a couple in the movie which is high on drama.

    We kindly ask that you link www.netflix.com/firebrand  in your coverage.

  • Netflix adds 6.96 mn subscribers in Q3

    Netflix adds 6.96 mn subscribers in Q3

    MUMBAI: After a disappointing Q2 result, global streaming giant Netflix has again beat all expectations in its Q3 earnings. Netflix has not only added 6.96 million subscribers in this quarter but it has reported $4 billion streaming revenue for the quarter which is up 36 per cent year over year. However, the media company’s international revenue was down $90 million due to year-over-year impact from currency. The Reed Hastings-led company has proved again that it is still at the top of digital entertainment business despite threats from Amazon Prime, Hulu, HBO.

    The amazing subscriber growth came from US market as well as international market. Netflix netted 1.09 million new streaming subs in the US and 5.87 million internationally. The disruptor in world entertainment is projecting it will add 9.4 million net subscribers during the next quarter.

    Though Netflix has licensed content on its platform, it will rely on its TV and film studios to make more of its own content. As quoted by CNBC, Netflix chief content officer Ted Sarandos said its original shows tend to be more valuable than licensed ones.

    “We also continue to expand our international originals, with projects spanning India, Mexico, Spain, Italy, Germany, Brazil, France, Turkey and throughout the Middle East to just name a few. In India, our hit series Sacred Games was followed up by Ghoul in late August. La Casa de las Flores, our latest Mexican original, has become a big hit,” the company said in a letter to shareholders.

    Netflix’s free cash flow in Q3 was -$859 million vs. -$465 million in the year ago quarter. It anticipates that it will be closer to -$3 billion than to -$4 billion for the full year 2018.

    The company also spoke about its competitors while emphasising that internet entertainment is leaving more opportunities. “Content companies such as WarnerMedia and Disney/Fox are moving to self-distribute their own content; tech firms like Apple, Amazon and others are investing in premium content to enhance their distribution platforms. Amid these massive competitors on both sides, plus traditional media firms, our job is to make Netflix stand out so that when consumers have free time, they choose to spend it with our service,” the streaming service commented.

  • Netflix sees tremendous advantages for internet viewing in India

    Netflix sees tremendous advantages for internet viewing in India

    MUMBAI: Though Netflix did not deliver an outstanding performance for Q2 2018, its focus on India has surely risen. In the follow-up conference call, India was mentioned 20 times, which is higher than the last nine quarters combined.

    Netflix CEO Reed Hastings admitted the challenges in the Indian market. “We’re way behind YouTube, Hotstar. Those are really the leaders on the internet. There’s so much TV viewing, that linear TV that could be internet viewing and the advantages are tremendous in India for internet viewing because you don’t get the ad load that you see that’s so high in all of the other platforms. So, Netflix is having great success getting established, getting our reputation going,” he commented.

    With Raw Stories, Sacred Games, and Ghoul, the company expects to gain good momentum but needs to focus on adding languages and better pricing. “It’s really I think accelerating the brand perception of Netflix as not just an out-of-towner, but someone who is producing content that you care about in every part of the world,” Sarandos commented on local content strategy in the global market. Its first Indian original Sacred Games is doing well while Ghoul is releasing in August.

    “Paid net ads are up compared to year ago and forecast to be up on a year-over-year basis in Q3. The fundamentals have never been stronger. Our viewing is setting year-over-year records. So, we’re feeling very strong about the business,” Hastings said in an earnings call.

    Netflix isn’t worried since it has observed a pattern of unprecedented growth in Q1 followed by flat growth in Q2 and Q3.

    “We started investing our own unscripted programming and have had some really great, out-of-the-box hits with Nailed It and Fastest Cars and Queer Eye, that are doing great with our watchers relative to building an audience. Also, you saw Queer Eye did quite well at the Emmy nominations announced last week. We’re really excited with the progress and the speed to market we’ve been able to do our unscripted shows at really high quality,” Netflix chief content officer Ted Sarandos said.

    While the good romantic comedies have gradually disappeared in the last two decades, the internet content king is reviving the old charm with movies like Kissing Booth, Set It Up. The movies have been delivering good viewership, as claimed by the company. Other than this genre, Netflix will have movies with critically acclaimed directors like Martin Scorsese and Alfonso Corona next year.

    While the company has planned to invest $8 billion only in content, it will continue to operate with debt to finance as it remains the most cost-effective source of capital for the company. “Obviously, we’d love to get to that point where we’re organically and self-funding content. We do see a point where we can get there. But until we do, we see debt as the right choice in terms of cost of capital,” Netflix chief financial officer David Wells said. This strategy may pay off well if it can raise the price with the addition of subscribers.

    Going forward, Netflix wants to highly emphasise on products too. From better mobile UI, smart downloads to faster TV experience, everything is being talked about. Along with happy subscribers, it wants to make more people aware of the brand. Despite a worse Q2 result, it will definitely continue to be a good choice for investors.

  • In Q2 earnings call, Netflix’s added focus on India

    In Q2 earnings call, Netflix’s added focus on India

    MUMBAI: Though Netflix did not deliver an outstanding performance for Q2 2018, its focus on India has surely risen. In the follow-up conference call, India was mentioned 20 times, which is higher than the last nine quarters combined.

    Netflix CEO Reed Hastings admitted the challenges in the Indian market. “We’re way behind YouTube, Hotstar. Those are really the leaders on the internet. There’s so much TV viewing, that linear TV that could be internet viewing and the advantages are tremendous in India for internet viewing because you don’t get the ad load that you see that’s so high in all of the other platforms. So, Netflix is having great success getting established, getting our reputation going,” he commented.

    With Raw Stories, Sacred Games, and Ghoul, the company expects to gain good momentum but needs to focus on adding languages and better pricing. “It’s really I think accelerating the brand perception of Netflix as not just an out-of-towner, but someone who is producing content that you care about in every part of the world,” Sarandos commented on local content strategy in the global market. Its first Indian original Sacred Games is doing well while Ghoul is releasing in August.

    “Paid net ads are up compared to year ago and forecast to be up on a year-over-year basis in Q3. The fundamentals have never been stronger. Our viewing is setting year-over-year records. So, we’re feeling very strong about the business,” Hastings said in an earnings call.

    Netflix isn’t worried since it has observed a pattern of unprecedented growth in Q1 followed by flat growth in Q2 and Q3.

    “We started investing our own unscripted programming and have had some really great, out-of-the-box hits with Nailed It and Fastest Cars and Queer Eye, that are doing great with our watchers relative to building an audience. Also, you saw Queer Eye did quite well at the Emmy nominations announced last week. We’re really excited with the progress and the speed to market we’ve been able to do our unscripted shows at really high quality,” Netflix chief content officer Ted Sarandos said.

    While the good romantic comedies have gradually disappeared in the last two decades, the internet content king is reviving the old charm with movies like Kissing Booth, Set It Up. The movies have been delivering good viewership, as claimed by the company. Other than this genre, Netflix will have movies with critically acclaimed directors like Martin Scorsese and Alfonso Corona next year.

    While the company has planned to invest $8 billion only in content, it will continue to operate with debt to finance as it remains the most cost-effective source of capital for the company. “Obviously, we’d love to get to that point where we’re organically and self-funding content. We do see a point where we can get there. But until we do, we see debt as the right choice in terms of cost of capital,” Netflix chief financial officer David Wells said. This strategy may pay off well if it can raise the price with the addition of subscribers.

    Going forward, Netflix wants to highly emphasise on products too. From better mobile UI, smart downloads to faster TV experience, everything is being talked about. Along with happy subscribers, it wants to make more people aware of the brand. Despite a worse Q2 result, it will definitely continue to be a good choice for investors.

  • Netflix’s 85% spending towards original content

    Netflix’s 85% spending towards original content

    MUMBAI: Worldwide Netflix lovers will have a gala time as the content provider will launch 1000 originals on its platform by the end of 2018.

    Speaking at a conference, Netflix CCO Ted Sarandos said that 85 per cent of Netflix’s new spending on content is going toward the company’s own original works. Netflix already revealed that it would spend $8 billion this year for overall content.

    The streaming giant is increasingly shifting to its own content instead of reruns and movies made by others. The direction is more driven by economic reasons as there are predictions that big media companies would eventually go for their own streaming subscription services.

    However, earlier there were reports that only 20 per cent of US users’ viewing is made up of originals. Sarandos reacted that more than 90 per cent of Netflix’s customers regularly watch original programming. Some of this investment is recovered through the monthly subscription fees people pay.

    Usually SVOD platforms raise their subscription rates seldom but a recent survey found that Netflix subscribers might be willing to pay even more than they do now. Another survey found that two-thirds of Netflix’s US subscribers would stick with the service even if it raised prices to $15 a month or more.

    Also Read:

    Netflix hires Shrishti Behl to build original Indian slate

    Localised content the way forward for Netflix in India

  • Netflix CCO Ted Sarandos says India is ‘TV starved’

    Netflix CCO Ted Sarandos says India is ‘TV starved’

    MUMBAI: This could really make television executives in India, who have built a multi-billion dollar business, gnash their teeth. We are referring to Netflix chief content officer Ted Sarandos’ comment at the fifth MoffettNathanson Annual Media & Communications Summit, which is on in New York between 14 and 15 May.

    “There is no real great local television in India,” he said. “It is a television starved market.”

    He went to add that the interesting thing about the Indian market is that it is a culture that loves cinema. “What we are trying to do is bring something new to the country with cinema-infused television. Bit budget big scale productions in long form storytelling. We think this is going to differentiate us from the market,” he explained. “We believe that it is the big budget production with scale and local stars  which I think people like as much as the movies.”

    Sarandos went to explain that the streaming app has six tent pole shows under various stages of production in India and the first one to see the light of day will be Sacred Games.

    The streaming service obviously has got big plans under its sleeves for India. Amongst the senior professionals that it has hired for India  and is currently training in its US HQ figure Shrishti Behl, the Netflix director for originals, and former Fox senior executive Swati Mohan, who will be looking after marketing for Netflix as a brand in India.

    Sarandos added that productions are underway in 17 countries. And the reason that the streaming app is getting into originals is that clearing rights from existing content owners and studios was getting tooi expensive compared to the value they offered. Netflix has no control over the quality of the shows or the structure, hence that was a chellenge, he explained. Also  being able to get early windows was challenging. Additionally, Netflix users were increasingly watching original programming, hence the drive will be more towards creating new shows.

    He pointed out that the French press  read  Netflix’s  withdrawal from the Cannes Film competition wrongly. “We are totally interested in complying with the law that says that films need to be released in theatres and cannot be streamed online on a subscription model until three years between theatrical release is complete,” he said. “That law means we do not release our films in France in theatres. The past year the Cannes Film Festival applied this rule that we have to introduce our films in theatres in France to be eligible for the competition. We decided to pass because we would rather release our movies for millions oif viewers online in France than a limited number involved with the Cannes Film Festival.”

    Also Read :

    Netflix announces unscripted series on Mumbai Indians

    Localised content the way forward for Netflix in India

    Indian content at Netflix to be creatively lead by Disney’s Simran Sethi

     

  • Netflix: DreamWorks’ Cobb to lead kids, family content team, deal with Orange renewed

    Netflix: DreamWorks’ Cobb to lead kids, family content team, deal with Orange renewed

    MUMBAI: Two significant developments have taken place at Netflix, a leading internet entertainment service with 104 million members in over 190 countries, including India, enjoying over 125 million hours of TV shows and movies per day, including originals.

    Orange and Netflix have inked a major agreement and Melissa Cobb will lead Netflix kids and family content team.

    Orange, one of the leading telcos with sales of 40,9 billion euros in 2016, and Netflix have renewed the agreement signed in 2014 for the distribution of Netflix for Orange TV customers in France, and have expanded their partnership to all countries in which the Orange Group is present.

    This strategic partnership will enable the Group’s subsidiaries in Europe, Africa and the Middle East to distribute Netflix in the future, bringing their customers exclusive content of this service to all their screens.

    Netflix will be offered to Orange Poland customers in the coming months as part of its TV offers. Other launches will follow in 2018.

    “We want to offer the best content,” notes Orange CEO Stéphane Richard.

    Netflix CEO Reed Hastings said, “This partnership offers the possibility for millions of our customers to enjoy the leading entertainment service seamlessly, in one place.”

    Cobb has joined Netflix as vice-president, kids and family, overseeing the creation and acquisition of series and films for children and families. Based in the Los Angeles office, Cobb reports to the chief content officer Ted Sarandos.

    In her role, Cobb leads the content team responsible for bringing kids and family titles to Netflix members with an expanded focus on high quality series and event programming across the spectrum of kids and family entertainment, including both animation and live action.

    Cobb joins Netflix from DreamWorks, where most recently she was the chief creative officer and head of studio for Oriental DreamWorks. Based in Shanghai, China, she oversaw all aspects of running the studio and U.S./China collaboration including creative oversight of all projects in development and production, business strategy, production strategy and more for a slate of high quality animated feature films targeted to a global audience.

  • Best of SRK movies now available on Netflix

    Best of SRK movies now available on Netflix

    MUMBAI: What happens when the world’s leading internet TV network becomes the new home for one of India’s biggest film star? In one such deal of providing premium quality entertainment, Netflix and Red Chillies Entertainment (RCE) have announced a tie-up. All the new films starring Indian movie superstar Shah Rukh Khan will be exclusively available to more than 86 million members globally on Netlix.

    This association marks the beginning of a long-term relationship between both companies and the first of its kind with any Indian film production company. 

    “Shah Rukh Khan is the most sought-after actor in the Indian film industry, and has played a huge role in bringing Indian cinema to the world stage,” said Netflix chief content officer Ted Sarandos. “His monicker “King Khan” speaks to his status as a cultural icon and to the incredible popularity of his films among audiences worldwide”.

    The partnership will also give Netflix members both in India and around the world exclusive subscription video-on-demand access to dozens of RCE films as well as new films that will hit Indian theaters within the next three years.

    “Red Chillies is surging ahead in global entertainment and for the first time, our great stories are going global on Netflix all at once and crossing all geographical barriers, waiting to be discovered over the world. No more waiting for our fans wherever they are,” said Khan.

    The first title that will come on Netflix is Dear Zindagi which was released theatrically on 25 November. The highly-anticipated film directed by Gauri Shinde stars Shah Rukh Khan and Alia Bhatt.

    Among other Red Chillies titles available on Netflix will be box office hits including Happy New Year, Dilwale and Om Shanti Om.