Prepend to the content
In a highly competitive Indian OTT market, Netflix has been facing challenges in establishing itself as a leading streaming service. However, co-CEO Ted Sarandos recently announced that India is currently the fastest-growing market for the company.
At ET’s Global Business Summit, Sarandos revealed that Netflix experienced significant growth in the Indian market in 2022. According to him, the streaming service saw a 30% increase in engagement and watch time, as well as a 25% rise in revenue in the region. Sarandos announced that two Indian films, “RRR” and “Gangubai Kathiawadi,” are breakout successes in western markets. He revealed that “RRR” had drawn over 73 million hours of watch time within the first four weeks of its release on Netflix, while “Gangubai Kathiawadi” clocked more than 50 million hours in the first six weeks after its release.
Netflix’s localized approach
Sarandos also expressed his confidence in the Indian market and stated that the company plans to invest more in content creation in the region as watch time and engagement continue to improve. “This year was our most successful in India in terms of growth,” he said.
When asked about Netflix’s success in the Indian market, Sarandos attributed it to the company’s localised approach. He explained that Netflix manages its operations locally in India, unlike many other companies based in California that try to manage India from a distance.
The success of Indian films on Netflix and the streaming service’s continued investment in the region demonstrate the growing demand for high-quality content from Indian audiences. With Sarandos’ announcement, it is clear that Netflix is committed to meeting this demand and expanding its presence in India.
These impressive results suggest that despite the challenges, Netflix has made progress in India and is successfully competing with local OTT players. Sarandos also highlighted that Netflix has a strong slate of Indian original content, including shows such as “Sacred Games” and “Delhi Crime,” which have been well-received by audiences in the country.
It remains to be seen whether Netflix can maintain its growth trajectory and further expand its reach in India. However, the recent announcement by Sarandos is a positive sign that the company is making headway in this crucial market.
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