India Sees Surge in Netflix Subscriptions and Revenue in Q2 2024 .
IIE digital desk: Netflix experienced significant growth in both subscribers and revenue in India during the second quarter of 2024. The streaming giant reported a notable increase in the number of Indian users, driven by a diverse content lineup and strategic pricing models.
The uptick in subscriptions contributed to a substantial revenue boost for Netflix in the region. This growth highlights the increasing popularity of streaming services in India, as more viewers turn to digital platforms for entertainment.
Industry experts attribute Netflix's success to its investment in locally produced content, which resonates well with the Indian audience. Additionally, competitive pricing and tailored marketing strategies have played a crucial role in attracting and retaining subscribers.
As Netflix continues to expand its presence in India, the company is expected to invest further in regional content and partnerships to sustain this upward trajectory. This growth trend underscores the potential of the Indian market as a key player in the global streaming landscape.
Netflix's revenue in India has increased by 24% to Rs 2,214 crore, with a net profit rise of 75% to Rs 35 crore in Q2 CY24. Globally, Netflix gained 8.05 million subscribers during the same period, with the Asia-Pacific region, including India, recording the highest number of new members.
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