Under the collaboration, Network18 affiliates-including its strategic partnership with ViacomCBS, Viacom18-would start creating shows for Netflix to support the Multinational corporation expand its offerings in India, where it wants to compete against the video streaming services of Amazon.com Inc and Walt Disney Co.
A spokesman at Netflix in India denied but did not expand upon, that it had talks with Network18 or Viacom18. A Viacom18 spokeswoman declined to comment on the launch of negotiations. Actions in Network18 Media & Investments grew 5 percent following the article in Reuters.
Deal or No Deal
There was no immediate clarification of the financial terms for any future relationship, and discussions are still early, the sources said, speaking on condition of anonymity, since the discussions are private. Although Netflix alone will use the new shows, Netflix 18 and its affiliates will not cease to produce displays on other platforms, two of the three sources said.
Viacom18 is licensing several platforms content like Amazon. In 2019, its Tipping Point digital unit collaborated with Netflix for three Hindi series, but two of the reports suggested that current discussions had taken place over several years about a much bigger partnership.
The second source described the ongoing discussions as one of the “largest movements to build local content in India” by Netflix. The source stated that Netflix ‘s ambition and aspiration in India are quite great, adding that at least 10 shows, especially Hindi, could be included in the deal.
Network 18 is regulated through its oil-to-telecom telecommunications company Reliance Industries by the Indian billionaire Mr. Mukesh Ambani. In recent months, Reliance has managed to secure nearly $13 billion of investment in its Jio Platforms digital unit, comprised of films and music apps and a telecoms venture, from Facebook Inc., KKR & Co., and other investors.