Speaking at the Global Business Summit, hosted by Economic Times, Netflix’s co-CEO Ted Sarandos said that in India, engagement was up 30 percent and revenue was up 25 percent. He further added that the Indian market witnessed the fastest growth in 2022 and the country’s paid subscription in numbers was the highest in the world.
Though Netflix doesn’t report country-specific numbers, Sarandos said the firm has seen an acceleration of growth in India, which he describes as an “incredibly vibrant market, going through a very exciting time.”
The Co-CEO also shared that Netflix has not yet planned to roll out advertising in India in 2023, and that there will be a continued investment push in to the Indian market which will receive a larger share of the platform’s $17 billion budget, proportional to its growth. The company has a strong pipeline of content across original local content and licensed content for India.
The global success of RRR and Elephant Whisperer titles on Netflix that have made the Oscar shortlist, have certainly reignited India’s aspiration of creating crossover content. Sarandos believes, RRR could be a key “trigger” to make that happen and Netflix would like to be “an exporter of Indian content”
