US-based streaming TV service Netflix is apparently gearing up to enter the Indian market by 2016 with plans to bring iconic shows such Buniyaad, Nukkad and Malgudi Days onto its platform.
The move has set off local DTH players into a frenzy to chalk out strategies to counter Netflix’s entry into the market and diversify their product offering.
Netflix has around 62 million subscribers, out of which 40 million are from the US itself. With competitors such as HBO Now, Sling TV and Sony entering the streaming TV segment, Netflix is now looking to grow its services overseas.
Hooq, a Singapore-based streaming service recently begun offering its services in India, letting users stream and download movies for just Rs 199 per month. The company is a joint venture between SingTel, Warner Bros and Sony Pictures Television.
While streaming is the future of television viewing, it does face some issues when trying to break into the Indian market. The low penetration of broadband internet, slow network speeds and high cost of data are big hindrances for services such as Netflix.
However, Internet content companies are betting big on 4G services such as Reliance Jio which promises to offer high-speed, low-cost Internet connectivity to the masses.
The onset of 4G in India will show immediate results, which is what makes the next 1-2 years so exciting from a content perspective and video is currently leading in terms of potential of impact.