Netflix faces stiff competition despite growth in India
Netflix faces stiff competition despite growth in India
Netflix’s partnership with Reliance Jio hasn’t yielded the expected growth in India. A report by AllianceBernstein, as covered by TechCrunch, reveals Netflix’s 6.5 million subscribers, trailing behind Amazon Prime Video’s 20 million and Disney+ Hotstar’s 40 million.
A significant challenge for Netflix in India is its sparse native content. Only 12% of its titles are local, while Prime Video boasts 60% domestic content. Despite efforts to promote Indian originals, Netflix lags behind competitors in offering diverse regional content.
Emerging markets come with unique challenges. AllianceBernstein analysts note that streaming services in these markets compete not just with each other but also with cheaper linear TV and Internet video. Platforms like YouTube dominate in India, making it a key growth area for social media.
A strategic partnership to boost Netflix’s growth in India
Netflix joined forces with Jio Platforms, owned by billionaire Mukesh Ambani, to access Jio’s vast user base. While JioCinema gains popularity with its varied content, the Netflix-Jio collaboration aims to enhance its reach in India.
TechCrunch reported in August that the partnership provided Jio’s 450 million Indian users easier access to Netflix. This move was part of Netflix’s strategy to penetrate the Indian market. Yet, it still struggles to rival the subscriber count of competitors like Prime Video and Disney+ Hotstar, who’ve better catered to local tastes.
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