Netflix seems to finally be in a good place, as far as its India operations go. The streaming giant can take heart from the fact that 2023 has begun on an excellent note for Netflix India. As a result, Netflix is quite upbeat about its immediate future in India. So much so that Netflix plans to double down on its original content slate in India, along with investments in content.
The aforementioned news comes straight from the horse’s mouth. Monica Shergill, head honcho at Netflix India, revealed the news to a prominent Indian financial media publication. As per a report in the publication, Netflix is ramping up its content investments in India, along with lining up an extremely ambitious slate for 2023.
Monica Shergill has also revealed numbers to back up Netflix’s aggressiveness in the Indian market. The streaming giant has reportedly had a 30% growth in total viewing hours in India year over year, while its revenue has grown by 25% year over year in India. She has further shared that Netflix India is doing well on all three key parameters of consumer engagement, revenue and profit.
Going by this account, it does look like Netflix India is finally poised to shrug off the failures and despondency of the past, and shine in 2023. If readers remember, Netflix co-founder Reed Hastings had gone on record early last year to say that “Netflix’s lack of success in India was frustrating”. Cut to this year, Ted Sarandos sang a different tune in February 2023, saying that “India is the fastest growing Netflix market in the world this year and because of that, we’re able to continue to invest in great storytelling”.
The turnaround in Netflix’s fortunes in India seem to have come on the back of Netflix drastically slashing rates in India. From a minimum ₹199 per month mobile-only plan, the streamer has slashed its rates to ₹149 per month in India – one of its cheapest rates anywhere in the world.
Also, Netflix India’s spirits have been buoyed by terrific recent successes. RRR is still going strong on the platform. The first three months of 2023 have seen decidedly successful Indian Original content from Netflix. The harrowing original series, ‘Trial By Fire’ won accolades all around – from both critics and audiences. ‘Mission Majnu’ and ‘Rana Naidu’ have been equally popular.
Netflix India is also investing aggressively in acquiring the streaming rights of popular Indian films. It recently announced a slate of 16 Telugu films and 18 Tamil films that will stream on Netflix, once their theatrical run is over. Netflix also has on its radar, a host of hit Malayalam and Hindi films that will stream on the platform after their release in theatres.
All this bolsters the confidence and gung-ho feeling at the streaming giant that 2023 might finally turn out to be the year when Netflix shines in India.
We’re hiring!
We are hiring two full-time junior to mid-level writers with the option to work remotely. You need to work a 5-hour shift and be available to write. Interested candidates should email their sample articles to [email protected]. Applications without a sample article will not be considered.
