Netflix counts India as key market, plans bigger bets for more subscribers

Aims to add 1 million subscribers annually by expanding into local languages, experimenting with pricing models and increasing partnerships

Video streaming major Netflix counts India as a key growth market and is prepared to take bigger bets, Chief Executive Officer Reed Hastings said on Wednesday.

Addressing investors during a concall, Hastings, 58, who started Netflix 21 years ago, said that the company plans to add one million subscribers annually by expanding into more local languages and experimenting with pricing options as well as increasing partnerships. 

Netflix, according to industry estimates, has a subscriber base of 5 million in India, and is behind players such as Hotstar, ZEE5 and Amazon Prime Video.

"There is a large mobile phone subscription base