World’s largest online video-streaming giant Netflix’s CEO Reed Hastings applauded India’s biggest disruptor on $50 billion telecom sector – Reliance Jio and said that every country should have a telecom operator like Jio.
Netflix is emerging out as one of the largest online video streaming company across the world and the company is growing its footprints among Indian youth too – thanks to easily and cheaply accessible internet by Reliance Jio. That being said, Netflix CEO Reed Hastings lauded Jio and said that telecom companies should learn from how Reliance Jio has made internet accessible to people across India at such a low price. Hastings believes that every country should have its own Reliance Jio so that internet can be made affordably accessible to all.
The Netflix CEO said, “Reliance Jio has been a transformational network in India and has brought down data cost massively. There are other people around the world having that kind of impact and can get people to use internet more. We hope someone would do a Reliance Jio in every other country.” Hasting’s admiration for Jio is not a surprise as Reliance Jio has played a significant role in turning the way people use internet and telecoms used to work – it won’t be wrong to say that Jio has brought the internet boom in India.
Because of this internet boom since September 2016, every other telecom operator has been compelled to offer free calls and dirt cheap quality internet rates to 160 million subscribers. In the process, it has made access to the internet far more affordable in the country, giving a fillip to all online businesses, from social media sites like Facebook to e-commerce to online video-streaming like Netflix. So much that online video consumption has grew by five-fold in India in 2017 – compared to previous year. And as per research by Media Partners Asia (MPA), the overall online video opportunity in India is poised to touch $1.6 billion by 2022 from $340 million in 2017. A big cake for Netflix.