Netflix has tapped into potentially the largest market yet, using their favourite word Free. India being one of the most movie crazed nation will respond great to a website like Netflix especially with their current subscription offers. I believe that Netflix entering India is a big positive as it validates the potential of VOD in our country.
The launch of Netflix here shows that India is an important market and it will help drive consumption of content. Netflix’s launch has created a great buzz among movie and TV show enthusiasts in the country, many of whom believe it’s a great move, yet data consumption and slow internet speed could act as restrictions. It might also affect content sourcing as the industry is growing and there could be some impact on the cost of acquisition for companies offering mainstream content.
Some of the major effects that Netflix is currently causing in the country could be as follows:
Production of better content
Netflix excels in the area of original content and most of their acclaimed shows are home productions. Currently they are targeting the English speaking market but soon will enter the local market by first, acquiring the already available content and then producing its own local content.
Also I believe Netflix could be a big boost for independent cinema which does not get a lot of screens in India. Various other VOD platforms have started making original content that focuses more on quality rather than the quantity of titles that they have.
Dent into piracy:
Internet piracy has been an ongoing problem for the better part of a decade. On the other hand streaming sites or VOD platforms has seen a rise in usage by people who wish to forego piracy. Entry of a streaming giant like Netflix in India has led people to realize that good and quality content is available on such websites at a nominal cost.
Of course it will be a long time before we entirely eradicate piracy, but through VOD and online streaming platforms we have at least found an alternative method to resolving a long-standing issue. I hope the viewers will get used to legally consuming online video content like they have in other countries.
Affecting the consumer choice in India
Netflix entering India will give the consumers a lot more choice and might even turn their attention towards alternate, independent and parallel cinema. This development will also help consumers to appreciate subscription-led model and its pricing compared to the limited choice one gets on free platforms.
Finally I feel that in a few years the customers will settle down with maximum to two streaming platforms. One could be a mainstream platform and other could be a niche player like us. Ultimately, it will all come down to individual programming and user experience. We welcome Netflix to India.
