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ValueTheMarkets News Commentary - The Indian entertainment market is growing at a rapid rate that far outstrips contemporaries in the West. The huge nation of more than 1 billion people is expected to see a compound annual growth rate of nearly 15% over the next five years according to Statista. This article discusses the issue with reference to Netflix (NASDAQ: NFLX), Walt Disney Co (NYSE: DIS), Paramount Global (NASDAQ: PARA)and
With a huge population dominated by young people, an emerging middle class and rapid adoption of technology,
The company has recently announced the launch of a new smart TV channeldedicated to Bollywood and Indian entertainment industry news.
The channel continues the company's tried and tested method of using creator-led content. That's because this new venture is a collaboration with Bollywood Hungama, a leading social media destination for Bollywood gossip.
With the Indian smart TV market having tripled in the last 18 months and making up more than 90% of TVs sold in the country over the last year, focusing on the space could be a smart strategy.
However, with its wide variety of content being distributed across app-based platforms, video-on-demand services, traditional networks and even gaming platforms, the company is reaching over 125 million Indian households weekly as it strives to build an entertainment empire.
Netflix (NASDAQ: NFLX) is another company seeking to capitalize on the huge Indian entertainment market. According to the Economic Times, the streaming service's subscriber base in the country floats around between the 8 million and 10 million mark.
There is a huge amount of content created specifically for the market on the platform. These Indian Netflix originals include 59 original movies and even more television shows, as well as several stand-up comedies and documentary features.
While this sounds like a significant amount of both subscribers and local content, it might not be enough.
Analysts at AllianceBernstein have noted that the streaming giant lags behind several big-name competitors in the country in terms of subscriber numbers, despite attempts to entice people on board with price cuts.
The key problem with Netflix's offering in
Walt Disney Co (NYSE: DIS) is at the other end of the streaming spectrum. This entertainment giant has performed strongly in
The platform has an emphasis on local networks, carrying content such as films, television series, live sports and original programming. This content is combined with established Disney brands and franchises like
However,
This growing streaming giant even has a major Western entertainment company behind it…
Paramount Global (NASDAQ: PARA), with their Paramount+ streaming app, have had fair success too, with second-quarter earnings showing a 47% increase in revenue from the platform, while viewing hours rose too.
However, it's the company's activities in
That's because it owns a 13% minority stake in JioCinema owner Viacom18, offering significant exposure to the rapidly growing Indian streaming outfit. Its growth has been aided by the decision to show
Indeed, the 2023 IPL final set a record for concurrent viewership of a streaming broadcast, attracting over 120 million unique viewers.
The success of this platform led
Several strategies have been employed as companies compete to dominate the Indian entertainment market. Netflix appears to have failed to lean heavily enough into locally produced content in its efforts, with
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