According to data released by Netflix on Thursday, it picked up 10.1 million worldwide subscribers during the April-June period, more than triple what it usually adds in that period. Also Netflix ended June with 193 million worldwide subscribers with nearly 26 million of those subscribers having joined Netflix during the first six months of this year. This is more than double the number compared with last year. Isn’t that a GIGANTIC number for such a small time period!!
Nothing helped Netflix acheive this target more than the pandemic and the restrictions because of it. But how long will be this pandemic serve as an angel for it before it turns into the devil? Now you might think this is absurd or maybe too pessimistic. Don’t worry we have a plausible explanation.
With the outbreak of COVID-19 many people either lost their jobs or have very little source of income since the shutdown of almost every possible industry. This leaves them with their savings which is often spent on basic necessities until things start getting back to normal, which given the current situation can take longer than expected.
Along with the above situation and the current subscription rate of Netflix in India, which is a little more on the expensive side when compared to its peers in the OTT market, the growth might not be that sustainable for the Indian scenario.
Also, if we consider the Indian OTT arena there are many players that offer a much cheaper alternative to Netflix. And no we are not just considering the home-grown platforms like Zee5, Voot, ALTBalaji, etc. but also the global streamers like Amazon Prime Video and Disney+Hotstar.
So what is your thought now? Will Netflix be able to hold on to its newly added subscribers for long term? What will it do to woe them other than just adding content to the platform? There’s no doubt Netflix is a market leader but there are possibilities where it can capture more of the Indian audience by tweaking here and there a bit.
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