Netflix to invest INR3,000 on original content for India.
Netflix and Chill: Netflix Founder and CEO Reed Hastings has announced that the streaming platform will spend INR3,000cr this year and the next on producing original content in India, where it has a massive up and coming viewer base.
The investment is likely to help Netflix take on rivals such as Amazon and Hotstar.
The Indian arm of Netflix grew more than 700% during 2018-19, recording revenues of INR466.7cr for FY 19, with a net profit of INR5.1cr, according to its filing with the Registrar of Companies. HT
“Indians are bitten by the TikTok bug as the app makes it easy to create content using nothing more than a phone”. Read this amusing article to know how TikTok craze in India is minting celebrities and ruining lives in the country.
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