TAIPEI (Taiwan News) – The world’s leading internet entertainment service provider, Netflix, is stepping up efforts to increase its presence across Asia, notably in India – not China.
The company's presence in Asia is still in its nascent stage as it makes inroads into the region, Netflix’s chief content officer Ted Sarandos told CNBC. Various strategies will be implemented to expand its operations in India, capitalizing on the tremendous profitability potentials in a market of approximately 450 million internet users, he added.
Netflix is eyeing an additional 100 million subscribers in the South Asian country alone over the next few years, with 100 original projects in the pipelines. “We’re able to come in and produce locally, and tell those stories on a grand scale,” Sarandos said.
According to Sarandos, Netflix has no plans to enter the China market in the near future in any way similar to its business model in India. The media service provider has tested waters in China through a sort of collaboration with Chinese video streaming platform iQiyi, but has not initiated independent operations there, reports CNBC.
The not so friendly business environment in China is one of the reasons that Netflix has been discouraged from investing big in the market, with the exception of seeking licensing for a few of the firm’s programs in the market, he explained.
Netflix has unveiled plans to make 17 programs that will be produced in Asia next year. Sarandos said it’s a great joy presenting stories from Taiwan, South Korea, Thailand, Japan, India, and elsewhere, and being able share them with a broader audience across the world, wrote The Straits Times.