Netflix: Following the success of its business model in India, Netflix, a well-known provider of on-demand entertainment, revealed on Wednesday that it had lowered subscription fees in 116 countries. Since 2021, when Netflix launched a low-cost subscription plan in India, the market has seen a 30% rise in user engagement and a 24% rise in revenue year over year.
The company reduced subscription costs for the first time by 20–60%
“India is a big prize because it has a huge population of entertainment enthusiasts, and we need to have the goods they enjoy,” said the speaker. Therefore, we are working on the creative aspect and improving the pricing, and India has a lot of potential to expand in the future. According to the co-chief executive officer, Ted Sarandos, during an earnings call, “It is a very specific market in terms of (the fact that) they appreciate local content, but you can also see that local content is travelling more than before. The company reduced subscription costs for the first time by 20–60% in order to better serve the Indian market and broaden its penetration.
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India will be a great place for us to succeed in the end-Ted Sarandos
Ted Sarandos Said, ‘We can prosper in India. We are still investing in it even if we are far from there, and I believe that India will be a great place for us to succeed in the end.’ He added, ‘The historical drama RRR and Sanjay Leela Bhansali’s Gangubai Kathiawadi, both of which were streamed on the service after their theatrical debuts.’ These are some examples of how the possibilities for content continues to expand alongside the platform’s ability to reach customers.
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