Netflix’s founder and CEO Reed Hastings, on Friday, announced that the over-the-top video streaming platform will invest INR 3000 Cr on producing original content in India. It is being speculated that this announcement was a result of Netflix failing to meet its new subscriber acquisition target in 2019.
Speaking on the sidelines of the 17th Hindustan Times Leadership Summit, Hastings said that Netflix India content during the second quarter of 2019 wasn’t strong and that’s why it failed to attract new users to the platform.
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