Well, Netflix is one of the biggest names in the OTT world. Apart from buying the OTT rights of big-ticket movies and web shows, the streaming giant has made it big and bankrolled some of the biggest ventures in the history of world cinema.
Netflix has narrowed down many barriers and made sure the films and shows acquired or produced by him reach to the maximum audience across the globe. However, the streaming giant has witnessed a drastic downfall as it lost 2 lakh subscribers in less than 100 days. The share of the streaming pioneer fell 37 per cent, which is shocking and disappointing on many levels.
Coming to India, Netflix is still struggling to crack this market and there are several reasons behind this.
The pricing
As basic as it sounds but yes, the high subscription price is one of the primary reasons for Netflix getting maximum subscribers across the country. In December 2021, the streaming giant lowered its subscription price across all plans, bringing its lowest plan at Rs 149 per month, but honestly, it is still not enough.
Lack of additional benefits
The world's largest streaming service lacks additional benefits that come with its two biggest competitors (ad-supported free content and add-on service).
Poor Desi content
While Netflix has some great international movies and shows, the desi aka Indian content acquired or produced by the streaming giant has not impressed the audience. The platform needs to work on its content strategy and come up with such Indian content that has Indianness and relevance at the same time.
Powerful strategies from competitors
Netflix ranks third in the country as a research firm recently claimed that it has around 5.5 million subscribers in India. However, Disney + Hotstar and Amazon Prime Video are way ahead with 46 million subscribers and 22 million subscribers respectively. Honestly, Netflix should observe the strategies of both these streaming services and plan its strategy according to that.
As per New York Times report, Netflix blamed a number of issues, ranging from increased competition to its decision to drop all its subscribers in Russia because of the war in Ukraine. To entertainment executives and analysts, the moment felt decisive in the so-called streaming wars. After years of trying, they may see a chance to gain ground on their giant rival.
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