After marking its entry into Asia with a launch in Japan in September, Netflix now plans to expand into South Korea, Singapore, Hong Kong and Taiwan in 2016
Quoting industry sources, the news report added that Netflix is expected to announce the India launch at the Consumer Electronic Show in Las Vegas, to be held from January 6 to 9.
Netflix entered the Asian market in 2015 with a launch in Japan in September. The American company had then laid out its strategy to launch in 200 countries by the end of this calendar year.
Netflix is the world’s leading Internet subscription services for movies and TV shows, with operations in over 50 countries. Of its 65 million subscribers, 23 million are from outside the US.
Subscriptions start at US$8.99 a month. However, in a price-sensitive market like India, the rates are expected to be much lower.
For its India foray, Netflix is likely to partner with a local telecom company to take advantage of the 4G networks to ensure high-quality video streaming on mobile devices.
Netflix has been raising funds to fund its international expansion, including Asia. South Korea, Singapore, Hong Kong and Taiwan are the other four markets where Netflix plans to launch in 2016.
In India, Netflix will compete with Bigflix (Reliance Communications), Movies (Google Play), Youtube, Eros Now and Spuul, which has partnership with Yash Raj Films to stream its movies.
Netflix will also compete with Singapore’s on-demand video provider Hooq, which launched its services in India in July this year. Hooq — a joint venture between SingTel, Warner Bros and Sony Pictures Television — lets users stream and download movies and TV shows in India for INR 199 (under US$3) per month.
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