India has already been one of the major markets for the online streaming company Netflix. Now India has become the second largest market for Netflix in terms of paid subscribers. The company has said that India has been in second place in terms of adding the highest number of paid subscribers during the June quarter.
More than 80 lakh subscribers received in June quarter
Netflix gave this information in a letter to the shareholders. It said that during the second quarter of 2024 i.e. three months from April to June, Netflix got 80.5 lakh new paid subscribers worldwide. Out of them, 28.3 lakh new paid subscribers were added in the Asia-Pacific region. India also falls in the Asia-Pacific region. The Asia-Pacific region proved to be Netflix’s number-1 geographic region in terms of new members.
India ranks third in terms of revenue
For Netflix, India is not only among the top markets in terms of new paid subscribers, but India also plays an important role in terms of revenue. According to Netflix, India was the third largest country for it in terms of revenue percentage growth during the June quarter. However, the company has not given any data about revenue in India. Overall, Netflix’s revenue in the Asia-Pacific region grew 14.5 percent to $ 1.05 billion in the June quarter, while globally the figure grew 16.8 percent to $ 9.56 billion.
Such content helped in adding subscribers
Fresh content helped Netflix add new paid subscribers in India during the June quarter. Netflix said that during the quarter, several new content was released on its platform, which helped in adding paid subscribers. They include Sanjay Leela Bhansali’s film Heeramandi and Imtiaz Ali’s film Amar Singh Chamkila. While Heeramandi got the highest number of views of 1.5 crore on Netflix’s platform during the quarter, Amar Singh Chamkila was viewed 83 lakh times.
India becomes an important market for Netflix
According to Netflix, licensed films like Kiran Rao’s Missing Ladies and Ajay Devgan and Madhavan starrer Shaitan also played an important role in its growth in India during the June quarter. Netflix co-CEO Ted Sarandos says that India has emerged as an important market for his company’s growth in recent years.
