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March 27, Monday 2017 2:09 AM       

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       BUSINESS Next Article: GST Council to finalise additional legislations today  
       Netflix inks pact with Airtel & others, bets on local content
 
         Posted on :19:07:51 Mar 6, 2017
   
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       Last edited on:19:07:51 Mar 6, 2017
         Tags: Netflix, Airtel & others, bets, local content
 
NEW DELHI: Digital streaming service Netflix today said it has partnered with Airtel, Videocon d2h and Vodafone in India as it looks to ramp up its presence in the Indian market. The US-based firm, which is up against strong competition from rivals like Amazon Prime, HotStar and others in the Indian market, is investing aggressively in local content.
 
"India is one of the most important and we are delighted to be teaming up with three of India's leading companies. The partnerships with Airtel and Videocon d2h is for set top boxes while the Vodafone partnership is for payment integration," Netflix Co-founder and CEO Reed Hastings told reporters here. Adding that the growth in consumption has also been driven by free data offering from new-comer Reliance Jio, Hastings said Netflix is in discussion with many other players in India for partnerships.
 
Hastings, on his maiden trip to India, said the company has seen strong adoption of its services since its launch in the country in January last year. "We have a strong growth here (India), stronger than all the other Asian nations (except China, where Netflix is not present)... We are investing heavily on content. The content has doubled over the last year and we expect it to double next year. We are also setting up a Mumbai office," he said.
 
Hastings, however, declined to comment on investment details. Netflix has offices in the US, Amsterdam, London, Singapore and Tokyo. It has about 94 million users globally, of which 40 million are outside the US.
 
"In 2017, we'll be working on making our Indian service better in every dimension. We are keen on bringing more locally-produced series and films to our more than 93 million members households globally," Hastings said.
 
In December, Netflix had inked a long-term deal with Shah Rukh Khan's Red Chillies to give viewers exclusive access to the Bollywood superstar's upcoming as well as past films. Despite the intense competition, Hastings said the company will focus on improving its content library and continue to have a premium play rather than changing prices.
 
Netflix, which has gained popularity in India on the back of successful shows like Narcos and The Crown, is also keen on bringing more original programming to consumers. He added that this will help bring content to users across markets without worrying about licensing the content. The company is also looking at introducing more payment options for Indian users, given the low penetration of credit cards. 
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       BUSINESS
Next Article: GST Council to finalise additional legislations today
 
 
BUSINESS HEADLINES
Aditya Puri features in Barron’s 30 best CEOs  
India is 3rd largest aviation mkt in domestic traffic  
China win for Apple as court overturns iPhone ruling  
CBEC to be renamed CBIC under GST regime  
Sebi bans RIL from equity derivatives market for 1 year  
Sensex up for 2nd day, Nifty reclaims 9100 as bank stocks gain  
Govt may table 4 GST bills in Parliament today: Minister  
Airfares in India among 'lowest' globally: Sinha  
Sensex tanks 318 pts, Nifty slumps below 9100 on global clues  
Notes ban to spur economic activity: Govt  
Govt nod for 18 new airports costing Rs 30,000 cr  
Govt nod for 18 new airports costing Rs 30,000 cr  
Adani Enterprises acquires Adani Infra  
Vodafone, Idea Cellular to create new Indian market leader  
Softbank appoints Kabir Mishra to Snapdeal board  
Idea to sell 2G, 3G, 4G mobile data at same price from Mar-end  
Airbus to set up its first Asia training facility in Delhi  
BSNL offers 2GB data per day, unlimited calling for Rs 339  
Sensex soars 188 pts, Nifty at fresh closing peak on Fed move  
Prominent Australians ask Adani to abandon coal mine project  
Harley-Davidson launches Street Rod at Rs 5.86 lakh  
India imports petrol, diesel from China  
Rupee hits 1-1/2 yr high, surges 78 paise on BJP sweep  
Tata Steel, Wipro in world's most ethical companies' list  
Google in talks with China to stage a comeback: report  
 
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