Netflix is reportedly in talks with Reliance Industries’ media unit Network18 for a multi-year partnership. This move by the streaming colossal is to strengthen and expand its market and content offerings in India.
Under this collaboration, Network18 affiliates- ViacomCBS and Viacom18 would create shows for Netflix to up its game against competitors, Amazon Prime Video and Disney+Hotstar. Earlier the streaming service has taken up projects by Viacom18 Studios and Tipping Point.
The OTT space has witnessed tremendous rise during the pandemic imposed lockdown. With the cinema halls and multiplexes being shut, few filmmakers and producers have opted for direct-to-digital releases as well as launching new gripping originals.
As per Reuters reports, the discussions are at initial stages and no clarity on the financial terms of a potential partnership has been revealed yet. However, a Netflix India spokesman denied the news but did not elaborate.
The report further added, “While the new shows will be used only by Netflix, that does not mean Network18 and its affiliates will stop creating shows for other platforms.” Viacom18 also licences content to several platforms, including Amazon Prime Video.
Netflix has produced a number of Indian originals starting with Sacred Games and the recent ones – Betaal and Choked. It is the most expensive streaming service in India compared to Prime Video and the rebranded Disney+Hotstar.
The Indian VOD market has grown exponentially in the past few years with more than 30 OTT players in the business. All of them are eyeing for the 600+ million strong user base in the country. It is estimated that India’s online video market will reach $4 billion by 2025, with SVOD services contributing more than $1.5 billion while AVOD accounting for $2.5 billion.
Disney’s entry into the Indian market through the leading player Hotstar was a key milestone in the OTT space. With its vast content library from Disney, Marvel, Pixar, Star Wars, National Geographic and others, Disney+Hotstar has surely gone a step ahead from others.
Thus, streaming giant, Netflix is trying to expand and put its A-game to take on its contemporaries.