StreamFest brought millions of users to Netflix in India: Greg Peters
In its Q4 2020 earnings conference call, Netflix COO and Chief Product Officer Greg Peters said that there is a lot of interest among Indian consumers for Netflix
Peters further stated that the challenging part now is to figure out how this can translate into sustained incremental growth for the service. "And now we go through the more difficult part of actually analyzing how that interest through this specific tactic translates into sustained incremental growth. And we're still working through the details of that. And obviously based on what we see there will inform how we think about how we leverage that tactic again, or how do we improve on it, what other places we think it might be leverageable," he added.
According to Peters, Netflix members come to the service seeking to be entertained in a whole variety of ways. "Sometimes they're looking for a movie or sometimes a TV show or animation or scripted or unscripted, and sometimes they show up and they're not really sure what they want to watch. And so we've had the opportunity to try and be innovative and try new mechanisms to sort of help our members in that particular state."
Responding to a question about Netflix's strategy to test a linear channel service in France, Peters said that the platform is still unclear how that's going to work out.
Peters is bullish about the ‘Shuffle Play’ feature that allows users to play randomly selected titles. Netflix will roll out this feature globally this year. "I think an even better example of that is a new feature that we've been testing and we're going to now roll out globally, because it's really working for us where our members can basically indicate to us that they just want to skip browsing entirely, click one button and we'll pick a title for them just to instantly play. And that's a great mechanism that's worked quite well for members in that situation."
Answering a question about the spectacular numbers reported by Disney+, Netflix Spencer Wang - VP of Finance, Corporate Development and IR Spencer Wang noted that a large chunk of their subscriber addition came from Disney+ Hotstar in India.
"30% of their 87 million paid subscribers were Hotstar, which I think we all sort of recognize as a bit of a different service. So the 87 million is closer to 60 million and our ARPU is roughly double or actually more than double. So we added close to 40 million last year alone. So I think when you factor in those dynamics on the fact that we're coming from a higher level of penetration globally, I think we feel very good about the performance," Wang said.
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