Netflix has struck a multi-year creative partnership with the Indian entertainment conglomerate Yash Raj Films as the video streaming major seeks to boost its original programming lineup.
As part of this tie-up, both firms will work together to create films and series that bring "defining stories" to audiences in India and across the world, the company said in a statement.
The first project to come out of this partnership is a thriller series titled 'The Railway Men'. The four-part series, which is based on the deadly Bhopal gas leak, will star R. Madhavan, Kay Kay Menon, Divyendu Sharma and Babil Khan, directed by debutant director Shiv Rawail.
The second project is a film titled Maharaj and will mark the debut of actor Junaid Khan, the son of Bollywood superstar Aamir Khan. Directed by Siddharth P. Malhotra, the film also stars Jaideep Ahlawat, Sharvari, and Shalini Pandey.
Inspired by true events, the company said the film is a "David vs Goliath story set in the 1800s" wherein a "fearless reporter uncovers a series of incidents that shake the very foundation of society"
"(Netflix's) belief in the ‘content-first’ approach, is noteworthy and synergistic with our ethos. This partnership will certainly push YRF as a storyteller to new audiences and allow them to consume Indian stories in their own languages too" said Yash Raj Films CEO Akshaye Widhani.
"India is a young and aspirational country. We have 1.4 billion stories to tell the world. We want to showcase our content, as well as provide a platform for our brilliant homegrown talent to a global audience" he added.
This partnership comes months after Netflix debuted a four-part documentary series 'The Romantics' that chronicled the life and legacy of the late Yash Chopra, the founder of Yash Raj Films. The series, directed by Smriti Mundhra, also included the first ever video interview of Aditya Chopra, the son of Yash Chopra and the current chairman of Yash Raj Films.
"Yash Raj Films have defined the essence of Indian film-making. They are one of the most respected storytellers in the industry. From Kabhi Kabhie to Dilwale Dulhania Le Jayenge, War to Pathaan, their signature stories have been part of our lives and continue to fuel the zeitgeist. Together, we are confident that we can entertain the world with quality films and series like never before" said Monika Shergill, VP, Content, Netflix India.
India has served as a key content hub for Netflix in the past few years and is also becoming increasingly important for its future growth. Netflix co-CEO Ted Sarandos has previously said that India is a "big prize" because it has an enormous population of entertainment-loving people.
However, it faces stiff competition from domestic and international players such as Disney+ Hotstar, JioCinema, Amazon Prime Video, ZEE5, and Sony LIV, all of whom are looking to capitalise on the rising appetite for digital content in the country.
India's video streaming market reached nearly 100 million subscriptions in 2022, according to a recent FICCI-EY report. Revenue generated from video subscriptions in India has also increased 27 percent to Rs 6,850 crore in 2022, it said.
By 2025, the revenue from video subscriptions is expected to reach an estimated Rs 9,120 crore, as the paid subscriber base grows to an estimated 114 million subscriptions from 52 million households, the report said.
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