For newbies, this might turn out to be a perfect opportunity for testing and testing, and for Netflix, the payoff might be a higher number of subscribers. The popular video streaming platform has decided to host a StreamFest weekend in India next month that will give consumers free access to its library of content.
Anyone in India can watch all blockbuster movies, series, documentaries and reality shows for two full days, the company said in a blog post on Friday. According to experts, the move is aimed at bringing new users to the platform which rivals players like Amazon Prime Video, Disney + Hotstar and Zee5 into the booming OTT (over the top) market in India.
The two-day StreamFest will take place on December 5 and 6. Customers who register for Fest will only receive one standard definition stream and will be able to access all features used by members. “At Netflix, we want to bring the most amazing stories from around the world to all entertainment fans in India,” the company said.
Currently, Netflix offers monthly subscription plans in three price brackets of Rs 499, Rs 649 and Rs 799, respectively, with the exception of the Rs 199 mobile-only pack. Its competitors like Amazon Prime Videos, Hotstar and Zee5 offer their services at cheaper subscription rates, ranging from Rs 99-299 per month to Rs 999 per year.
While recent polls have indicated that Netflix has a sizable following among Indian youth, now is the time to expand its reach, especially when rivals appear to be well ahead of the game.
Netflix has invested heavily in Indian content – a whopping Rs 3,000 crore in 2019 and 2020 alone. “We’re just getting started here and the centerpiece of our story is content,” said co-CEO Reed Hastings. In its recent earnings call, the company said it is working with local partners to reach more devices, making it easier to process payments which it says will have “retention benefits.”