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Netflix reveals average revenue from India is affecting its bottom line in Asia-Pacific region

Its bottom line has been affected by the low average revenue per membership (ARM) in India, though it did not release specific numbers

Netflix has staved off its losing streak and managed to add 2.4 million subscribers in the third quarter of 2022, according to its quarterly report for the months of July to September (Q3). The loss in subscribers had been a major concern as the company lost 200,000 and 970,000 in two consequent quarters this year. The company itself was surprised with these figures as it offered a forecast of one million additions to its global subscriber base which now stands at 223.09 million. Netflix added that it expects 4.5 million subscribers in the following quarter. Why it matters: The company had been under pressure as it had to reckon with the tapering of growth fuelled by the pandemic coupled with fierce competition from other streamers ramping up their investments. It was the first time that Netflix lost subscribers in a decade which explains why it looked to diversify its revenue streams. How did it fare in the Asia-Pacific region: The company said that its revenue grew 19 per cent as average paid memberships rose 23 per cent over the last year. But its average revenue per membership (ARM) was in the negative compared to last year. The company explained that the revenue in the APAC region was affected due to the lower ARM in India. It did not reveal specific numbers for India but it confirms that Netflix is losing money in India which seems to be affecting its bottom line in the APAC region. The data stated that the…

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I cover several beats such as Crypto, Telecom, and OTT at MediaNama. I can be found loitering at my local theatre when I am off work consuming movies by the dozen.

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