Up To The Minute: Netflix In Discussion To Take Indian Content From Viacom18June 12, 2020 18:05
(Image source from: Ndtv.com)
Shows for Netflix are being created under the partnership of Reliance affiliate so that the US firms can expand offerings in India. Viacom 18 and the US Video streaming company, Netflix are in a discussion to source content, according to what three sources told Reuters, this would expand a relationship between both sides.
In this partnership, Network18 affiliates that is jointly associated with Viacom CBS, will create shows for Netflix in the interest of US firms that would help them expand offerings in India that compete against the video streaming services of Amazon.com Inc and Walt Disney Co. Without elaborating much, one of the Netflix spokesperson denied that they were in talks with Network18 or Viacom18.
After the Reuters article, shares in Network18 Media & Investments increased by 5 per cent. Sources said, the negotiations and the financial terms of any potential partnership were not completely clear and are all in early stages, all the talks are still private. Two other sources said, while Netflix would use new shows it doesn’t mean Network18 and its affiliates will cease to create shows for other platforms. Amazon and several other platforms get licensed content from Viacom18.
In 2019, Viacom’s its digital unit tipping point partnered with Netflix for three Hindi-language shows too but based on the discussions happening now, they seem to have a bigger tie-up over several years.
According to the first source "This is a bigger version of the 2019 deal in essence,” Then the second source described these ongoing discussions as one of Netflix's "biggest moves to create local content in India."
One of the sources said, Netflix is quite interested to do its shows in India. This deal would include 10 shows in Hindi. Network 18 is controlled by Mukesh Ambani. Into the digital unit Jio platforms, Reliance got $13 billion in investments from Facebook Inc, KKR & Co and other investors into its digital unit Jio Platforms, that has movies, music apps, and a telecoms venture. According to two sources, Reliance executives are involved in Netflix negotiations.