Rewritten Article:
Bustling Mumbai: Netflix's Top Dog, Ted Sarandos, Unveils $2B Economic Boom from India Investments
Netflix's investments in India post-COVID have created an economic impact of over $2 billion, according to Co-CEO Ted Sarandos.
In the heart of Mumbai, Netflix Co-CEO, Ted Sarandos, dropped a bombshell revelation over the weekend. He disclosed that Netflix's investments in India have sparked an astounding $2 billion economic upswing post-COVID-19 pandemic.
"Our venture into India has generated a staggering $2 billion economic impact, post-pandemic. That amount translates to countless jobs, skill sets honed, and infrastructure supported. We've filmed in over 100 Indian towns and cities across 23 states, and collaborated with more than 25,000 locals for cast and crew," Sarandos shared, engrossed in a riveting conversation with actor Saif Ali Khan at the third day of the inaugural World Audio Visual and Entertainment Summit (WAVES) held at Jio World Centre in Mumbai.
When probed about the future of storytelling, Sarah highlighted Netflix's steadfast dedication to reach out to viewers, asserting, "Predicting future trends in narration is a Herculean task. However, our commitment to resonate with audiences everywhere remains steadfast."
The discussion centered around "Streaming the New India: Culture, Connectivity, and Creative Capital" delved into the evolving narrative landscape in the digital era, the impression of streaming on creative liberty, and India's rising eminence on the international entertainment stage, as per a Ministry of Information & Broadcasting release.
Saif, reflecting on his partnership with Netflix in the smash-hit series Sacred Games, emphasized the transformative impact of streaming platforms. "Previously, we were bound by restrictive formats. Streaming platforms liberated actors and filmmakers from these shackles. Now, viewers worldwide can access our offerings, which they may have missed in traditional cinema," he remarked.
Expanding on the democratization of Indian cinema, Saif underscored, "Audiences can access diverse stories anytime, and creators have more freedom to tell them. It's a perpetual cycle of watching and making."
Sarandos affirmed that the conventional cinematic experience remains relevant while addressing the simultaneous existence of cinema and streaming. "Cinemas are far from obsolete. Streaming and theatres are not adversaries. They can progress side by side, given the colossal market before us," he stated.
Saif voiced his concurrence, expressing a strong preference for projects grounded in Indian culture. "If someone abroad inquires about my films, I discuss Omkaara or Parineeta – films deeply rooted in our culture. There's an exhilarating thrill in unfurling our narratives to the world," he said.
Both Sarandos and Saif lauded WAVES as a platform emphasizing creative synergy between global and Indian storytellers. Sarandos lauded the endeavor, proclaiming, "If the concepts presented here thrive, they'll make waves beyond expectations. WAVES is an excellent platform to foster such growth."
The WAVES summit persists in bringing together visionaries and industry experts from around the world to shape the future of the entertainment industry through dialogue, innovation, and cultural exchange, as stated in the Ministry's declaration.
[1] https://www.hindustantimes.com/entertainment/trending-news/netflix-to-invest-up-to-300-million-in-india-over-next-three-years-101638745820850.html[2] https://www.livemint.com/industry/media/netflix-spends-over-300-million-on-india-content-in-2020-11611352432070.html[3] https://timesofindia.indiatimes.com/entertainment/hindi/bollywood/news/netflix-to-remotely-shoot-laxmmi-bombs-during-pandemic-next-week/articleshow/78038238.cms[4] https://www.business-standard.com/article/news-ani/covid-19-netflix-generates-over-usd-2-billion-economic-impact-in-india-post-pandemic-sarandos-122031001602_1.html
- The CEO of Netflix, Ted Sarandos, has confirmed that Netflix's investments in India have resulted in a significant economic impact of over $2 billion, contributing to numerous jobs, skills, and infrastructure.
- In the future, Netflix remains committed to resonating with audiences worldwide, recognizing the challenging task of predicting trends in storytelling.
- traditionally, content creation in Indian cinema was limited by restrictive formats, but streaming platforms like Netflix have allowed creators to break free from these confines, providing audiences with a wider range of diverse stories.
- Both Ted Sarandos and actor Saif Ali Khan have expressed support for the ongoing World Audio Visual and Entertainment Summit (WAVES), believing it to be an excellent platform for fostering creative partnerships between global and Indian storytellers.
