For novices, this could turn out to be an best chance for trial and testing, and for Netflix, the acquire could be larger quantity of subscribers. The well known video streaming platform has decided to host a weekend StreamFest in India subsequent month that will give shoppers cost-free access to its content material library.
Anyone in India can watch all the blockbuster films, series, documentaries and reality shows for two entire days, the business stated in a weblog post on Friday. The move, professionals recommend, is aimed at bringing new customers to the platform that competes against players like Amazon Prime Video, Disney+ Hotstar and Zee5 in the burgeoning OTT (more than the major) marketplace in India.
The two-day StreamFest will be on December five and six. Customers who sign up for the Fest will get only a single stream in common definition and can access all the capabilities that members use. “At Netflix, we want to bring the most amazing stories from across the world to all fans of entertainment in India,” the business stated.
Currently, Netflix provides month-to-month subscription plans across 3 value slabs of Rs 499, Rs 649 and Rs 799, respectively, apart from the Rs 199 mobile-only pack. Its competitors like Amazon Prime Videos, Hotstar and Zee5 offer you their solutions at more affordable subscription prices, ranging among Rs 99-299 a month and Rs 999 annually.
While current surveys have indicated Netflix to have a considerable following amongst the Indian youth, the time is ripe to expand its attain in particular when rivals appear to be nicely ahead of the game.
Netflix has been heavily investing in India content—a whopping Rs three,000 crore by way of 2019 and 2020 alone. “We are only getting started here and the centrepiece of our story is content,” co-CEO Reed Hastings had stated. In its current earnings contact, the business stated it is operating with neighborhood partners to attain extra devices, creating payment processing much easier which it expects will have “retention benefits”.