iWorld
In Q2 earnings call, Netflix’s added focus on India
MUMBAI: Though Netflix did not deliver an outstanding performance for Q2 2018, its focus on India has surely risen. In the follow-up conference call, India was mentioned 20 times, which is higher than the last nine quarters combined.
Netflix CEO Reed Hastings admitted the challenges in the Indian market. “We’re way behind YouTube, Hotstar. Those are really the leaders on the internet. There’s so much TV viewing, that linear TV that could be internet viewing and the advantages are tremendous in India for internet viewing because you don’t get the ad load that you see that’s so high in all of the other platforms. So, Netflix is having great success getting established, getting our reputation going,” he commented.
With Raw Stories, Sacred Games, and Ghoul, the company expects to gain good momentum but needs to focus on adding languages and better pricing. “It’s really I think accelerating the brand perception of Netflix as not just an out-of-towner, but someone who is producing content that you care about in every part of the world,” Sarandos commented on local content strategy in the global market. Its first Indian original Sacred Games is doing well while Ghoul is releasing in August.
“Paid net ads are up compared to year ago and forecast to be up on a year-over-year basis in Q3. The fundamentals have never been stronger. Our viewing is setting year-over-year records. So, we’re feeling very strong about the business,” Hastings said in an earnings call.
Netflix isn’t worried since it has observed a pattern of unprecedented growth in Q1 followed by flat growth in Q2 and Q3.
“We started investing our own unscripted programming and have had some really great, out-of-the-box hits with Nailed It and Fastest Cars and Queer Eye, that are doing great with our watchers relative to building an audience. Also, you saw Queer Eye did quite well at the Emmy nominations announced last week. We’re really excited with the progress and the speed to market we’ve been able to do our unscripted shows at really high quality,” Netflix chief content officer Ted Sarandos said.
While the good romantic comedies have gradually disappeared in the last two decades, the internet content king is reviving the old charm with movies like Kissing Booth, Set It Up. The movies have been delivering good viewership, as claimed by the company. Other than this genre, Netflix will have movies with critically acclaimed directors like Martin Scorsese and Alfonso Corona next year.
While the company has planned to invest $8 billion only in content, it will continue to operate with debt to finance as it remains the most cost-effective source of capital for the company. “Obviously, we’d love to get to that point where we’re organically and self-funding content. We do see a point where we can get there. But until we do, we see debt as the right choice in terms of cost of capital,” Netflix chief financial officer David Wells said. This strategy may pay off well if it can raise the price with the addition of subscribers.
Going forward, Netflix wants to highly emphasise on products too. From better mobile UI, smart downloads to faster TV experience, everything is being talked about. Along with happy subscribers, it wants to make more people aware of the brand. Despite a worse Q2 result, it will definitely continue to be a good choice for investors.
iWorld
Prime Video and Hrithik Roshan reunite for quirky heist comedy Mess
HRX Films expands pact with quirky heist comedy set for production
MUMBAI: Prime Video is doubling down on its partnership with Hrithik Roshan, announcing a new comedy film Mess that promises chaos, chuckles and a clever twist on the classic heist.
Produced by Hrithik Roshan and Eshaan Roshan under HRX Films, a division of FilmKraft Productions, the film is being made in association with Soda Films Lab. Directed by Rajesh A Krishnan, Mess marks the second collaboration between the streaming platform and HRX Films after the upcoming thriller Storm.
At the heart of Mess lies an unusual premise. A group of robbers break into the home of a man with OCD, only to find themselves outmatched in a night-long standoff that flips the script on who is really in control. It is a set-up that blends tension with humour, turning a break-in into a breakdown of expectations.
Prime Video India director and head of originals Nikhil Madhok said, “A good story should surprise and entertain, and Mess does both with ease. It brings together a unique premise, memorable characters and a tone that keeps you laughing throughout.”
He added that the collaboration with HRX Films continues to grow stronger, with the new film reflecting a shared appetite for bold and original storytelling.
Hrithik Roshan said, “After Storm, Mess feels like a natural next step in our journey with Prime Video. The film captures the kind of unconventional storytelling we want to champion, with Rajesh bringing a distinctive voice to the narrative.”
Director Rajesh A Krishnan said, “The world of Mess is a mix of comedy and chaos, unusual enough to keep audiences on edge while still delivering humour. It has been a deeply collaborative and creatively fulfilling experience.”
The original screenplay comes from Paul Soter, with adaptation and dialogues by Kapil Sawant, adding another layer of craft to the film’s offbeat narrative.
As production gears up, Mess looks ready to live up to its name, serving up a delightful tangle of mayhem, mischief and movie magic for audiences in India and beyond.
