Streaming giant Netflix is reportedly in talks with Reliance Industries to source content from Viacom18, a joint venture between Viacom and TV18. Reuters reports that Netflix is looking at a multi-year partnership to source content from Viacom18.
According to the report, under the partnership Viacom18 would produce shows to help Netflix expand its offerings in India. Netflix is currently pitted against Disney+ Hotstar and Amazon Prime Video in India.
The shows would be Netflix exclusive but Viacom18 would continue to produce shows for other platforms.
Viacom18 currently licenses its content to multiple platforms including Amazon. Reuters quoted sources that stated the deal could include upto 10 shows mainly in Hindi.
Netflix is looking at regional language shows to expand its subscriber base in India with sizeable investment to develop content for Indian viewers.
The report further quotes the source stating that the deal would make huge sense for both the companies with Network18 hit hard by the pandemic as businesses have cut back on advertising and other spending. Network18 probably as a consequence of the pandemic is shutting down India’s No.1 Lifestyle channel FYI TV18 cometh 8th July.
