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Is Netflix Falling Behind Amazon Prime In Indian Market?
Amazon Prime Video India that was launched less than a year ago has just announced trailer for its first India original series called Inside Edge, in partnership with Excel Media and Entertainment.
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With different over-the-top (OTT) platforms launching in Indian market and competition getting tough, its time for the big players like Netflix to re-think their strategy or else fall behind the new entrants.
OTT refers to audio, video, and other media transmitted via the internet as a standalone product.
So, the question at the moment is whether Netflix India that launched over a year ago in the country will be able to go head to head with Amazon Prime Video or not?
Meanwhile, Amazon Prime Video India that was launched less than a year ago has just announced trailer for its first India original series called Inside Edge, in partnership with Excel Media and Entertainment. This is a new step for Amazon Prime which is all set to create new and original content for Indian audiences.
Amazon Prime recently announced 17 original Indian shows and even in terms of content, Amazon has shown a greater interest in meeting with the regional needs of the masses. Whereas, Netflix only manages to add a couple of Indian films to its service each month, probably making the choice for the audiences a little restrictive. Not even 15 per cent of shows entitled with Netflix in the US are available to Indian users.
Netflix has approximately 2-3 lakh paying subscribers in India. The company gained over 14 million new subscribers from outside the US, except China. India which makes up for the most populous market for Netflix contributes about 2 per cent of this growth. Across the world Netflix has over 86 million members in over 190 countries.
Another OTT platform, Hotstar India that is owned by the country’s biggest conglomerate, Star India benefits in terms of capturing Indian audiences and their demands in the entertainment sector. Hotstar gained subscribers when it decided to invest into Indian Premier League (IPL)live streaming, experiencing up to 25 million downloads within a month.
Pricing wise, Amazon, with its prime benefits, charges about Rs 499 a year, Hotstar charges about Rs 190 per month whereas Netflix comes out to be a little expensive, about Rs 650 per month. It becomes a little difficult to justify the price difference when one takes the other OTT platforms into account.
Even though Netflix may be the bigger player out of the lot, it definitely needs to step up its game keeping its competitors in mind, with regard to the Indian market and audiences.