iWorld
Netflix CEO Reed Hastings on competition and content creation in India
MUMBAI: With Amazon flexing its muscle and soon to be Disney-owned Hotstar in the fray, the Indian OTT market is super competitive and exciting, feels Netflix CEO Reed Hastings. "There is also lots happening on Amazon, and on Hotstar, which is now going to be owned by Disney… It's a super competitive, exciting market,” he was quoted as saying by news agency IANS.
One of the hallmarks of the Indian market, Hastings highlighted, is the ongoing telecom revolution triggered by Mukesh Ambani’s Reliance Jio. According to him, there is "nothing more impressive in the world than what Reliance Jio has done in the past four years in India" to democratise internet accessibility.
The streaming giant’s boss is of the opinion that these are good times for Indian content creators.
"If you were an Indian content creator (earlier), there were very few places to go, and now there are many places to go. So, people are pouring in. There are amazing amounts of stories that are coming up,” he said.
The 58-year-old is pleased with his company’s performance in India.
"There has been tremendous traction… Everyone has been talking about Lust Stories and Sacred Games. We have Delhi Crime coming out this week. So, there's lots that's happening on the original front,” he added.
Hastings pointed out that the Indian market has room to do different kinds of stories.
"We try to tell the best stories we can. Sometimes they are ready, sometimes they take longer. It really varies by that. There are so many streaming services, but if you think about how many networks there are on cable in India, there are way more than 34. I think there's a lot of room to do different kinds of stories," he stated.
Hastings also commented on the self-regulatory Code of Best Practices that Netflix and others have signed.
"None of us want strict government regulation on content. We can be flexible and can protect creative freedom a little better if we are a little bit proactive," he explained.
On the online censorship front, there is not much activity, Hastings noted.
"It's just before the elections. We are hoping the talk moves on because it's a challenging time to talk about anything like that. So in general, people around the world…and I am talking about adults, not children, want to watch what they want to watch, and the Internet represents that freedom,” he said.
e-commerce
Visa report tracks rise of India’s affluent, experience-led spending
Affluent base doubles to 130 lakh, travel 58 per cent of elite spends.
MUMBAI: In India’s new luxury playbook, it’s less about owning more and more about living better. A new whitepaper by Visa Consulting and Analytics (VCA) maps a decisive shift in India’s affluent economy, where spending is becoming more intentional, experience-led, and closely tied to personal identity rather than pure income growth.
Titled India’s Affluent Economy 2025–2026, the report draws on a Visa-commissioned Yougov study and VisaNet data across travel, dining, retail and lifestyle categories. The headline number is hard to miss: individuals earning over Rs 10 lakh annually have nearly doubled from 69 lakh to 130 lakh, significantly expanding the country’s discretionary spending base.
But it’s not just about scale, it’s about behaviour. As consumers move up the affluence ladder, discretionary categories are taking a larger share of credit card spends, positioning cards as key enablers of premium, lifestyle-driven consumption.
The geography of wealth is shifting too. Affluence is no longer confined to metros such as Mumbai, Delhi and Bengaluru, with cities like Ahmedabad, Surat, Jaipur and Lucknow increasingly mirroring metro consumption patterns.
The report highlights a clear pivot from ownership to access. More than 50 per cent of affluent consumers now use cards for elite memberships, while 7 in 10 are drawn to limited-edition drops and curated collections. Increasingly, luxury is defined by seamless access be it concierge-led travel or curated dining where time saved is as valuable as money spent.
Spending patterns reinforce this shift. Among the ultra-elite, travel accounts for 58 per cent of discretionary spends, far outpacing retail and luxury combined at 28 per cent. Cross-border spending penetration stands at 63 per cent, signalling a growing global outlook among India’s affluent.
Closer home, indulgence is becoming routine. Nearly 4 in 5 affluent consumers dine at premium establishments at least three times a year, while 1 in 4 visit luxury venues more than five times annually. Dining spends are also climbing, with Rs 20,000 emerging as a new entry-level benchmark per experience and Rs 50,000 marking premium territory.
Retail, meanwhile, is becoming more selective. Three in four affluent consumers make a high-end purchase at least once a quarter, while one in four shops premium every two weeks. Luxury retail intensity is also rising, with 2 in 5 consumers spending over Rs 5 lakh annually, and a smaller but significant segment exceeding Rs 10 lakh.
Technology and wellness are carving out new roles in this ecosystem. High-end gadgets now see average spends of Rs 60,000 or more per purchase, while ultra-elite consumers are eight times more likely to visit spas and show five times higher engagement with cosmetic stores than non-affluent groups.
The broader takeaway is structural. Affluent consumers are no longer buying products, they are buying ecosystems. Integrated experiences across travel, dining, wellness and payments are becoming central to how this segment lives and spends.
As India’s affluent base expands beyond metros and aligns more closely with global consumption patterns, the real opportunity lies not just in size, but in speed. For brands, the message is clear: relevance will be defined by how early and how seamlessly, they plug into this evolving lifestyle economy.
