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Netflix, Inc. (NASDAQ: NFLX) has a lot riding on its international segment, and may well be on its way to glory in India.
On Thursday, the company announced an agreement with Indian matinee idol and mega star Shah Rukh Khan-owned Red Chillies Entertainment, which allows its more than 86 million users access to films starring Khan. The titles that would come on Netflix include the his recent flick "Dear Zindagi" and other hits such as "Happy New Year," "Dilwale" and "Om Shanthi Om."
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Additionally, the agreement provides for Netflix members in India and overseas exclusive subscription video-on-demand access to dozens of films produced by Red Chillies Entertainment, as well as new films that will hit Indian theaters in the next three years.
"Shah Rukh Khan is the most sought-after actor in the Indian film industry, and has played a huge role in bringing Indian cinema to the world stage," said Netflix Chief Content Officer Ted Sarandos. "His moniker 'King Khan' speaks to his status as a cultural icon and to the incredible popularity of his films among audiences worldwide."
Netflix's third quarter earnings report showed that the company had 86.74 million streaming subscribers globally, with 3.57 million of them being net additions. Of the net additions, 3.2 million were added internationally. The numbers speak for the importance of the company's international segment, as the U.S. market gets increasingly saturated.
The tie-up with Khan, who is affectionately called SRK by his followers, could win subscribers not only in India but internationally, as his fan following cuts across boundaries.
Shah Rukh Khan and Netflix – looks a heady combo for an average SRK fan to turn a blind eye to. From the look of it, it is a win-win scenario for either parties.
Image: Laura Lee Dooley, Flickr
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.