Netflix is making significant strides in India, a market that has historically been challenging for its competitors. In the second quarter, India emerged as the second-highest contributor to Netflix’s net subscriber growth and the third-highest in terms of revenue growth. The company attributes this success to its localized content strategy and tailored product mix, which have proven effective in attracting, retaining, and monetizing members in the region.
While specific subscriber and revenue figures for India were not disclosed, Netflix reported a substantial increase in revenue for its Asia-Pacific region, rising from $919 million to $1.05 billion year-over-year. This growth is part of an ongoing expansion effort in India, as highlighted by Netflix co-CEO Ted Sarandos during the company’s earnings call.
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The streaming giant’s success in India is largely driven by its investment in local content.
Sarandos emphasized that their approach in India mirrors their global strategy: carefully selecting and programming content, improving product mix and market fit, enhancing engagement, and consequently growing both membership and revenue.
India’s media market is particularly attractive due to its massive population of over 1.4 billion and projected TV and streaming-related revenue growth of 11% in 2024, outpacing growth in other developing countries. However, the market presents unique challenges. These include limited broadband infrastructure, which makes consumers heavily reliant on mobile operators for streaming access, and a general reluctance to pay for streaming services due to the availability of free, ad-supported local content and widespread piracy.
These challenges have led some of Netflix’s competitors to reassess their strategies in India. Disney recently merged its Star India network with Reliance Industries, retaining only a minority stake. Similarly, Paramount Global sold its 13% stake in Indian media company Viacom18 to Reliance for approximately $517 million.
Despite these obstacles, Netflix, along with Amazon, has managed to make significant inroads with higher-income Indian consumers. Both companies benefit from stronger free cash flow positions compared to traditional media companies, allowing them to invest heavily in localized content. This approach has been particularly successful in capturing the growing middle- to higher-income consumer segment in India.
Mihir Shah, vice president of research firm Media Partners Asia, notes that tech platforms such as Netflix and Prime Video are dominating this lucrative segment of the Indian market. Their ability to cater to the preferences of this demographic through tailored content and services has been key to their success.
As Netflix continues to invest in and expand its presence in India, it remains optimistic about its growth potential in the country. The company is well positioned to capitalize on the opportunities presented by India’s vast and rapidly evolving media market.
Last updated: December 26th, 2025
