Netflix working on 9 Indian projects
Netflix Inc unveiled a plan to make 17 more original productions in Asia including Thai and Chinese language shows, as the US firm seeks to attract new international users through more local content.
The plan, which includes nine productions in India and five anime series, should help ease concern that the video streaming pioneer is running out of space to expand in developed markets.
Netflix reported bumper quarterly earnings last month as it exceeded forecasts in both the US and international markets, with the bulk of new subscribers coming from outside the US where the company has been investing aggressively.
“More than half of Asian content hours viewed on Netflix this year are viewed outside the region,” Ted Sarandos, Netflix’s chief content officer, said when unveiling the plan at the firm’s content showcase event in Singapore.
“So we have confidence that our upcoming slate of Asian productions will find fans in their home countries and abroad.” Netflix has earmarked $8 billion (Dh29.3 billion) for content this year, and had spent $6.9 billion as at the end of its third quarter.
The new titles build on Netflix’s recent forays into Asian productions, including India’s Sacred Games, Japanese anime series Devilman Crybaby, and variety comedy Busted! in South Korea.
In Asia, led by India, Netflix has won fans among a young, tech-savvy middle class. Chief Executive Reed Hastings has said India could deliver the service’s next 100 million subscribers.
Netflix scored a hit in India with Mumbai-based crime thriller Sacred Games. However, the Bollywood studio that produced the show disbanded last month after sexual harassment allegations against one of its partners, Vikas Bahl, and the show’s lead writer, Varun Grover. Both men have denied the allegations. — Reuters