What we can learn from Netflix subscription model ?
Why does it failed in India ?
Ott platform is a new and greater source of entertainment. It is new thing which has been added to our day to day lifestyle. It becames a phrase for us like let’s go do ‘ Netflix and chill ‘. You haven’t even imagine this thing that how easily we evolve with those things which gives us greater level of comfortness. As your interest and demands increases towards these different Ott platform so the marketing business of different Ott platform. It is a big competition which is going on between them. It is not hard to say that which Ott platform is at the top and getting sucess in India and which have failed to reach there.
Generally if we say there are three main Ott platforms which are quite popular those are Disney hotstar, Amazon prime video and Netflix. In India hotstar hold the 50% of shares, Amazon holds 20% of shares and Netflix holds 5% of shares. As we can see from the percentage Netflix couldn’t able to hold much shares in India. And eventually failed to achieve the same success as others. There are few reason behind this that this happened and we shouldn’t do that.
If we talk about it, I guess the first thing we can say the subscription prices. In Netflix there are only monthly subscription prices which makes the whole annual subscription price more expensive than other Ott platforms. In hotstar and Amazon prime there are options of doing either doing the subscription monthly or annually. And the annual price is lower than even if we sum the monthly price of subscription.
Bundle package services, in other other Ott platforms their content and other services is available in bundle. And if that much services is provided by a Ott platform no person would want miss that chance of having that much services in whole one pack. The price are lower than the whole sum up if we include each and every service one by one. Netflix doesn’t provide these kind of services or offers. Amazon prime provides these kind of bundle package services.
In hotstar or in Amazon prime their are much more regional content realted to your region and preferences. In these their are content are provided in many different languages, of many diffrent religion and many diffrent types as per your preference. So there are more options for viewers to scroll on and choose the content of their choice. In Netflix there is a lack of regional content.
As for Indian people they are obsessed with sports. And there are few particular sports which Indian people die for. So it is a great way to attract more subscribers towards your Ott platform for sure. Hotstar monopolised the whole sports section. Hence, get the more and more subscribers but in Netflix there is nothing related to sports or anything. It says except the live sports television broadcast they couldn’t do more than that. And has no plans about the sports content in near future.