Home >> Digital >> Article

Netflix Executives: We are way behind Hotstar and YouTube in India

17-July-2018
Font Size   16
Netflix Executives: We are way behind Hotstar and YouTube in India

Netflix’s quarterly revenue and subscriber numbers fell short of expectations in Monday’s earnings call resulting in the Netflix stock tumbling down by 10%.

But the company executives still found reason to be happy, they are excited about Netflix’s India report card. In the investor call Netflix chief Reed Hastings said, “We are really pleased with our progress or tracking we're making since we launched two and a half years ago.” He also said he sees a lot of opportunity in India.

There is pressure on the streaming giant to add new subscribers in international markets like India where the streaming major competes with YouTube and Hotstar. Its Chief Product Officer Greg Peters confessed that Netflix is “way behind YouTube, Hotstar” in India. “Those are really the leaders on the internet. And there is so much TV viewing at Linear TV that could be internet viewing,” he said.

Netflix launched its first Indian Original - Sacred Games - earlier this month and will be launching another- Ghoul - in August. It is this regional content strategy that has worked for Netflix, the executives said. “We've been producing shows that are incredibly relevant in their home territories and the nice windfall is they get viewed all over the world,” said Ted Sarandos, Chief Content Officer, Netflix. He added that Netflix India has seen “great success” with Sacred Games.

Producing local content is also helping change the perception of the brand as an out-of-towner, Sarandos said. “It's really accelerating the brand perception of Netflix as someone who is producing content you care about in every part of the world,” he said.

Later this year Netflix will launch new seasons of Chicas Del Cable from Spain, Ingobernable from Mexico. The high production quality of these shows aids in getting consumers, who don't know about Netflix, excited about the OTT platform, Sarandos added.

Pleased with the success Netflix has had so far, Peters said, “We're really getting some nice momentum in our India growth. We’re still a niche product and have got a long way to go to expand languages and many other aspects to able to cover to be a broad Indian product. But in terms of our beachhead, I’m very pleased with what we’ve been doing.”

Netflix which follows a purely subscription strategy in India falls in the premier category with a base subscription cost of Rs 500 per month. Netflix executives believe that the price point still leaves them with a significant growth opportunity. “We’re far from reaching a limit in terms of the addressable market given the pricing structures we have right now, we've got a lot of room to grow in a reasonably affluent part of the society in India and other markets around the world,” said Peters. He added that “the price point is is more of a value proposition than a premier proposition.”

The MD of Sai Estate Consultants, Chembur, on their marketing strategy, adopting a carpet bombing approach, response to the Wajood app and why he now allocates maximum of his marketing spends on digital

Prachi Mohapatra on fbb’s latest campaign, one-year after going omni-channel, and its growing reliance on content marketing

The marketing head of Greenpanel on marketing approach and how the company is working towards educating consumer about MDF

BookMyShow, Uber, Chumbak, Viacom18 and Radio City are some of the clients of the company

right
left
KARAN THAPAR & SHEKHAR GUPTA DISCUSS JOURNALISTIC ETHICS AT THE PRINT’S ‘OFF THE CUFF’ WOMEN ECONOMIC FORUM AWARDS 2018 RECOGNIZE WOMEN LEADERS OF THE DECADE THE 6TH EDITION OF IAA AWARDS RECOGNIZES THE WORK OF INDUSTRY PROFESSIONALS 11 INDUSTRY EXPERTS PRESENT  THEIR FAVOURITE DIGITAL CASE STUDIES @AD CLUB’S ‘D-CODE BUSINESSWORLD LAUNCHES 14TH EDITION OF MARKETING WHITEBOOK IN MUMBAI INDUSTRY VETERANS CHEER AS ADMAN AMBI PARAMESWARAN LAUNCHES NEW BOOK SPONG AAAI HONOURS VETERAN ADMAN RAM SEHGAL WITH THE 2018 LIFETIME ACHIEVEMENT AWAR PITCH TOP 50 BRANDS 2018 AWARDS COMPANIES WITH BEST MARKETING PRACTICES TEAM BBDO ORGANIZES AJAI JHALA’S FAREWELL WITH FRIENDS & ASSOCIATES RADIO CITY CELEBRATES ITS 17TH ANNIVERSARY WITH CONCERT, AWARDS AND FUN 5TH EDITION OF TIMES NOW & ICICI BANK’S NRI OF THE YEAR AWARDS GLOBAL INDIANS PITCH CMO SUMMIT BENGALURU SEES TOP INDUSTRY LEADERS AND MARKETERS IN ATTENDANCE DISTINGUISHED JURY COMES TOGETHER TO PICK WINNERS FOR PITCH’S TOP 50 BRANDS PITCH CMO SUMMIT BANGALORE SEES TOP CMOS ACROSS INDUSTRIES IN ATTENDANCE 1ST REPUBLIC TV GULF INDIAN LEADERSHIP SUMMIT & AWARDS HONOUR STALWARTS OF INDIAN GULF BUSINESS COMMUNITY SONY YAY! CELEBRATES ITS FIRST BIRTHDAY WITH PARTY FOR TRADE PARTNERS THOUGHT LEADERS AND TOP DIGITAL MARKETERS SPEAK @ EXCHANGE4MEDIA GROUP’S TECHMANCH 2018 IN MUMBAI EXCHANGE4MEDIA’S IDMA 2018 RECOGNIZES INDUSTRY’S BEST DIGITAL MARKETING CAMPAIGNS REALTY PLUS UNVEILS COFFEE TABLE BOOK AT 10TH CONCLAVE & EXCELLENCE AWARDS @AHMEDABAD EMINENT JURY CONGREGATES TO PICK WINNERS OF INDIAN DIGITAL MARKETING AWARDS 2018

Experts from the advertising industry revealed their mantra for publishers at a recent event held in Delhi

Competition Vs Collaboration. Experts discuss which will help both digital and traditional media produce best results

He is said to be considering various offers and will take a decision soon