People will be able to watch Netflix movies via a “sachet subscription” for Rs. 10 per movie. PayNearby is in talks with Netflix for the same.
Do you have a Netflix subscription? Getting a Netflix subscription can be expensive but that does not mean that people living in rural India or having less income cannot enjoy Netflix shows. According to a report by PTI, fintech firm PayNearby has said that a “sachet subscription” for Rs. 10 per movie can do the trick for everyone. “Internet data consumption for chatting, content and social media is alike in urban and rural areas. However, it is skewed in favour of the urban population for shopping, education, job searches, medicine and mobile banking, among others as compared to those living in rural and semi-urban areas,” said Anand Kumar Bajaj, founder MD and CEO, PayNearby, according to PTI.
“Imagine if I start selling one movie on Netflix at Rs. 10 in cash, it is going to crash down their servers. So to cater to this mass segment which we call Bharat… we are in talks with Netflix already,” Bajaj told PTI in an interview. He further cited data from global consulting firm BCG and said the internet data consumption for free OTT (Over-The-Top) content platforms is 39 percent in rural areas, whereas zero percent for paid subscription.
“I want to change that in the next five years. We can take it to 20 percent for paid OTT subscriptions in rural areas in five years from now,” Bajaj added. “The 10 percent is the digital savvy, value seeking while the 90 percent segment is what we call Bharat. The digitised segment has all kinds of facilities and services like banking, debit card, credit card, shopping. All the big techs are pouring services to them only, besides offering them cashbacks.”
“And there is this 90 per cent marginalised, subsidised segment on the other hand for which the government is making efforts. If we wish to integrate Bharat with India, this can be accomplished faster with digitisation,” Bajaj said.
PayNearby is a fintech startup which offers branchless banking and other financial services to the mass segment of the country by enabling the local neighbourhood kirana merchants commonly known as ‘Digital Pradhans’.