Netflix CEO says there should be more telcos like Reliance Jio across the world

Netflix co-founder and CEO, Reed Hastings believes that there should be a telecom operator like Reliance Jio in every country. Reliance Jio that is known for its cheap data rates is making Internet more accessible to people across the country. Hastings believes that other telecom operators should follow Reliance Jio's footsteps and make Internet more accessible. "Reliance Jio has been a transformational network in India and has brought down data cost massively. There are other people around the world having that kind of impact and can get people to use internet more. We hope someone would do a Reliance Jio in every other country," Hastings said in an interview to The Economic Times.

Netflix has recently announced a couple of original Indian series, including Sacred Games, Ghoul, Leila and Crocodile. For Sacred Games, Netflix has roped in Saif Ali Khan, Nawazuddin Siddiqui and Radhika Apte.

Hastings also told the newspaper that India is very relevant to the video-streaming company. "In India, content world has been held back and is only ad-supported television. And what's great about Netflix is no advertising," he said.

Netflix is also receiving strong competition from Amazon Prime and Hotstar in India. The content provided by the other two sites is more local, while Netflix is primarily English. Netflix's pricing structure also is a factor - it offers its basic services at Rs 500 per month, while Amazon Prime charges Rs 999 a year.

Hastings said that their strategy is to create superior content, and that's how people will love them.

Netflix had revenue of USD 11.7 billion in 2017 alone. It has 120 million subscribers in the world, with half of them outside America.