Netflix plans to invest $5 Billion to streamline its content strategy in 2016
Things are looking up for Netflix’s after its recent launch in India, which has been identified as the top growth market followed by Japan and Korea. On the content front, Netflix is looking to add popular and critically acclaimed movie titles like ‘Prem Ratan Dhan Payo’ and ‘Masaan’ to its catalogue. It also recently bought the streaming rights to indie-movie ‘Brahman Naman’ scheduled to premiere later this year.
“We will soon add titles in other Indian languages starting with Marathi, Gujarati, Tamil and Punjabi. The goal is to offer a global service with a global catalogue so that no one has to wait for the hottest new show or movie,” a Netflix spokesperson told us about their expansion plans.
Netflix has already earmarked $5 billion for content creation and acquisition for the January-December 2016 period, 60 per cent more than previous year. “Growth in original series continues to expand at an incredible pace. We released nearly 450 hours of global original content in 2015 and are planning 600 hours in 2016. Upcoming original titles, which will be available in India at the same time as the rest of the world, include: ‘Fuller House’, Marvel’s ‘Daredevil Season 2’, ‘Luke Cage’, ‘The Crown’ and many more,” he says.
The amount will also be spent on programming rights. The US-based company with around 75 million subscribers globally is equally gung-ho about its plans on international catalogue for 2016. “There will be more than 30 new Netflix original series (or seasons of existing series). Most of these will be available to our members everywhere, exclusively on Netflix. That’s more than one full new season of a series every other week. In addition, we’re expanding our original film initiative, launching more than 10 films exclusively on Netflix in 2016. We also are adding more kids programming and documentaries,” added the spokesperson.
When it comes to locally produced content which Netflix is renowned for, it is still early for the Indian users to get a sample of that. But the company is eager to produce content from this country and is even in talks with some local content creators. According to media reports it plans to localise the platform with the addition of subtitle options in Indian languages, starting with Hindi.
Having noticed a pattern in Netflix’s consumption among its Indian audience, the company feels it is too soon to tweak its strategy for India as it intends to quickly “learn and work with the trends as they emerge.”
“For now, the shows Indians love are very much similar to other markets and the top ones are our Netflix Originals like ‘Master of None’, ‘Narcos’, ‘Daredevil’ and ‘Jessica Jones’,” shares the spokesperson.
The spokesperson also mentions about looking into payments adding, “Early indications around payment methods would be something we need to look into.”
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