We all know how Indian telecom sector has transformed after the entry of Jio. Price rates of data packs have fallen down and people are experiencing a new India that loves to spend time on smartphones. Decoding the path of business tycoon Mukesh Ambani, Foreign Policy magazine has claimed that Reliance wants to beat digital giants such as Google, Netflix, Facebook, and Spotify.
Experts have started believing that Ambani started Jio not just to conquer the telecom market, but he wanted to rule other industries that were being ignored by companies-Digital platforms. Talkin about the competitors, the magazine said “Two large wireless operators have either shut down or filed for bankruptcy, while other competitors have been forced into uneasy mergers.”
More than a quarter billion Indians are using Jio, and when the freebies ended, more than 100 million paying customers were already using Jio’s services. As per the magazine’s observations, the main idea behind Mukesh Ambani’s massive time and money investment into the telecom sector was to capture the digital lives of Indians and monetize their content consumption.
If we take a look what the magazine is trying to convey is: First, accumulate users, and provide them high-speed Internet at a cheap cost. Once they get habitual in consuming content, offer them offers which they cannot resist.
This is great news for the content creators in India, as they will get more opportunities to express their talent because investors will be more interested in supporting them.
The major challenge to make this happen comes down to the mindset of Indian towards digital content. It is very difficult to make money when it comes to monthly subscriptions for content.
However, if Indians start paying for content, the magazine argues, Mukesh Ambani will become world’s richest person.
