SUMMARY
Black White Orange will work on establishing and developing Netflix’s consumer products business in India, as well as in Sri Lanka, Pakistan, Bangladesh & Nepal
The brand licensing startup provides merchandising solutions and helps brands, celebrities, media, and retailers find ways to strengthen their relationship with consumers
Netflix, in its Q4 earnings statement, said it would continue developing additional revenue streams
Streaming service major Netflix has appointed brand licensing startup Black White Orange as its exclusive licensing and merchandising agent in India and South Asia.
Black White Orange (BWO) will work on establishing and developing Netflix’s consumer products business in India, as well as in Sri Lanka, Pakistan, Bangladesh & Nepal.
Black White Orange, founded in 2015 by Bhavik Vora, provides merchandising solutions and helps brands, celebrities, media, and retailers find ways to strengthen their relationship with consumers. The startup offers services for retail, distribution, syndication, brand consulting, brand loyalty strategies, and creative solutions both within India and overseas.
Also read: Netflix’s India Glitch
“Netflix is an iconic brand in India and at BWO, we could not be more excited with the idea of launching consumer products for this legendary brand. Being superfans ourselves, we are thrilled to give fans a new way to own a piece of their favorite stories,” Mitali Desai, COO and cofounder of Black White Orange, said.
Black White Orange wants to build a never-before-seen merchandise experience for consumers that breaks away from the traditional mass market strategy, Desai said.
Netflix has been focussing on its consumer products business for the last couple of years. In 2020, it launched an online store, Netflix.shop, for branded merchandise. The OTT platform also hired Josh Simon as VP of consumer products in 2020 after a five-year stint at Nike.
For entertainment brands across the globe, the merchandise business has worked as an alternative stream for revenue. Netflix’s rival Disney already earns a significant source of revenue from its merchandise business. It earned $56.2 Bn in retail sales of licensed merchandise globally in 2021.
In its Q4 earnings statement, Netflix said it would continue developing additional revenue streams so that membership remains just one component of its growth. Netflix added 7.66 Mn net new subscribers in the December quarter of 2022, ending with 230.75 Mn subscribers globally. It added 1.8 Mn subscribers in the APAC region.
In India, Netflix competes with the likes of Disney+Hotstar, Amazon Prime Video, MX Player, and ZEE5.
The Indian video OTT market was valued at INR 249.09 Bn in FY22 and is expected to reach INR 581.21 Bn by FY27, expanding at a CAGR of 16.58% during FY23-FY27 period, according to a ReserachAndMarket.com report.
