Netflix, one of the biggest streaming platforms in the world, grew its revenue in India by 25 percent in 2022, according to Netflix's Co-CEO Ted Sarandos. He added that 2022 was the best year for Netflix since it began its Indian operation in 2016. Sarandos was interviewed by Anupama Chopra (Film Companion) at the Global Business Summit 2023 organised by The Economic Times. Sarandos also said that the company’s engagement in India grew by 30 percent, which means that people were spending more time watching content on the platform. He clarified that measurement cannot be “steered” by the subscriber number because it is not a “real” business metric when Chopra asked him to shed light on the importance of metrics in the streaming business. Sarandos revealed that Netflix had the highest net paid additions in 2022 which made the country its fastest-growing market in a separate media interaction. He also met the Union Minister for Information and Broadcasting Anurag Thakur during his visit to India. https://twitter.com/ianuragthakur/status/1626527906284568576 Why it matters: It is a significant revelation given that it is no secret that Netflix has been struggling in India. The figures are also important because streaming platforms shy away about sharing metrics usually. It suggests that the platform’s price cut in December 2021 may be helping it make inroads into the country. What else did Sarandos say: When asked about Netflix’s subdued performance in India, Sarandos said there is uncertainty when one enters a new market. “…it's miss, miss, miss, miss, miss,…
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