India is a unique market and one can’t make it big here with just good content. Take the case of Paramount. They wanted to launch an OTT platform but didn’t. Not that the platform has no interest in grabbing the Indian market but simply because they can’t afford to make originals in India at the moment.
Be it Prime Video or Netflix, the Indian slate determines whether people will accept it or not.
Viacom18’s Kiran Mani and Kevin Vaz at a recent industry talk dished out some real talk for international players eyeing the Indian market.
While Netflix and Prime Video have managed to plant their flags, it’s not all smooth sailing.
“Global models don’t apply to India,” Mani warned. He stressed that success requires a long-term commitment and understanding of local nuances. “If you try U.S. dollar pricing and don’t show commitment to India, India does not reward,” he added.
Vaz chimed in, comparing India’s diversity to the European Union. With 22 languages and 58 cultural regions, it’s not a one-size-fits-all market. “You cannot look at that as one,” he cautioned.
It is very true. You see, Stree 2 is a magnanimous success in North India. But down south, people didn’t even bother to watch it. Whatever the reason may be, Hindi films don’t have an audience in the Southern region. The vice versa is partially true. People in the North have welcomed many Telugu films and two Kannada films only in recent years. It’s not like people are open to anything and everything.
Despite the streaming boom, subscriptions are still finding their feet. With only 50 million subscribers in a country of over a billion, there’s room for growth. Just remember how Disney+Hotstar alone used to have 53 million subscribers in 2022. The downfall of OTT is real.
“Many of the reasons holding back subscriptions are not to do with content, but people trusting payment systems, trusting the platforms,” Mani explained. He admitted that even Viacom18 hasn’t fully earned viewers’ trust yet in terms of content variety, stability, and security features.
The takeaway? India’s streaming market is a marathon, not a sprint. Companies need to earn viewers’ trust, nail the pricing, and buckle up for the long haul. As Mani put it, “This is not a market you can skim and then go away.”
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