Karan Johar’s Dharmatic Entertainment has just signed a long-term agreement with Netflix. Under this multi-year agreement, the filmmaker’s new digital content studio will create films as well as fiction and non-fiction series, across several genres, exclusively for the global streaming giant. Earlier Netflix has signed content deals with Aamir Khan Productions for the actor’s movies and with Shahrukh Khan’s Red Chillies Entertainment for films and web series, but this new agreement is exclusive and has a wider scale. Speaking about this new venture, KJo said, “Netflix’s global vision matches with our legacy of providing a gamut of offerings and allowing creative freedom. Our alliance with Netflix is very organic.”
“We have worked together on Lust Stories in the past and now we are entering into this partnership, which is much more than just business transaction. It is an emotional alliance, a relationship,” he added.
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@Netflix_IN is about to get #Dharmatic! So excited about our exclusive collaboration with NETFLIX! We are creatively aligned to produce original feature films and series (fiction and nonfiction) on this diverse platform.... may the power of supreme content always be with us! @apoorva1972 @somenmishra @aneeshabaig @dharmaticent @netflix_in @dharmamovies
Netflix has around 1.2 million subscribers in India so there is a lot of untapped potential in this huge market. This deal is being seen as Netflix’s strategy to manage competition with local players in the Indian market, such as Hotstar, MX Player and ZEE5, as well as competition from other global streaming companies such as Amazon’s Prime Video, Apple TV+ and Disney+.
Further details of the agreement have not been shared but Director - International Original Film, India at Netflix, Srishti Arya revealed that this deal would benefit subscribers around the world as Dharmatic would “create content across formats including scripted as well as non-scripted content and films” which would be directly released on Netflix. He further said that Karan was a “master storyteller” and Netflix allows its creators “full creative freedom and support.” Meanwhile, CEO Dharma Productions, Apoorva Mehtra said that both companies were eager to produce original shows that would help explore new boundaries and modern storytelling formats.