Netflix and Jio Platforms have a new partnership that will help enhance the streaming giant's presence in India. Here are the major details you need to know about this "first-of-its-kind" deal.
Netflix-Jio Platforms Partnership
A Netflix return mailer is pictured in Miami, Florida 16 January 2007. Netflix announced it will start showing movies and TV episodes over the Internet, providing its subscribers with instant gratification as the DVD-by-mail service prepares for a technology shift that threatens the company's survival.
According to Tech Crunch's latest report, Netflix's deal with Jio Platforms to bundle the streaming giant's service with the carrier's two pay-as-you-go plans is a first-of-its-kind partnership with India's largest telecom operator.
Via US News, Reliance Jio Infocomm-the telecom arm of Reliance Industries, which is owned by Indian billionaire Mukesh Ambani-announced that a Netflix subscription on prepaid plans was already launched on Friday, Aug. 18.
The telecom giant said that almost 400 million prepaid users will be able to purchase a Netflix subscription for each of the two packages.
The first one, which costs $13.23 (1,099 rupees), will give customers access to Netflix on mobile platforms. The other one, which is around $18 (1,499 rupees), will give them the basic package for large screens.
These Jio Platforms' pay-as-you-go plans will extend for a maximum of 84 days.
"Partnership with Jio will give more customers access to this exciting line-up of Indian content as well as some incredible stories from around the world," said APAC partnerships for Netflix's Vice President Tony Zameczkowski.
New Deal's Importance
The logo of Jio is seen at the facade of the Jio World Centre, in Navi Mumbai on April 22, 2020. - Facebook has taken a $5.7 billion stake in the Jio digital platforms business of India's richest man Mukesh Ambani, the two sides said on April 22, marking one of the biggest foreign investments in the country.
The latest deal between Netflix and Jio Platforms happened as the streaming giant pushes to expand its subscriber base in India, which is a key Asian market.
The improving partnership between the two companies shows the unique approach of Netflix in India. If all goes well, there's a chance that the average revenue for each Indian subscriber will also improve.
As of writing, the average revenue per user in India is lower than those in the United Kingdom and the United States.
The deal will also greatly benefit Jio Platforms as it highlights the effort intensity of Reliance Industries to compete against rivals, such as Vodafone-Idea and Bharti Airtel.
"The launch of Netflix bundles with our prepaid plan is yet another step to demonstrate our resolve," said Jio Platforms CEO Kiran Thomas.
He added that the telecom's partnerships with international companies, such as Netflix, have improved in strength, allowing them to create use cases for users across the globe.
Related Article: Tencent Believes This Year's AI Model Is China's Finest Despite Missed Profit Projection
