Netflix is set to spend Rs 3,000 crore on content programming in India this year and the next, chief executive Reed Hastings said on Friday at an event in Delhi.
"The next 5-10 years are going to be a golden age of television. You are seeing unbelievable and unrivaled levels of investment from global companies like Apple, Amazon, Disney, Viacom as well as local companies like Zee TV," Hastings said.
India has emerged as a crucial content hub for Netflix which has commissioned around 40 original series and films in the country, including fifteen original series and about two dozen original local-language films in the country so far. In April this year, Netflix had said that around 15 new original Indian films are expected to be available to its members across the world by the end of 2020.
Globally, Netflix expects to invest USD 15 billion on programming this year and it is set to further go up in the forthcoming year, Hastings recently said at an event.