India’s Streaming Wars
Netflix has blamed the first drop in its US subscriber numbers since 2011 on price hikes announced in January. In India, a huge and growing market for Netflix, the streaming service has taken the opposite tack—announcing a lower-price option for mobile phone and tablet use only. In India, the company faces stiff competition from Amazon Prime and local player Hotstar, which dominates audience share, in large part due to its live sport broadcasts. Netflix does earn substantially more money per user. Accounting firm PricewaterhouseCoopers (PwC) estimates that India’s video-streaming industry will be worth Rs 12,000 crore by 2023, recording the highest growth rates in the country’s overall media and entertainment industry.