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Netflix India is maintaining a healthy business in India even as the subscription-led streaming business globally and in India is experiencing a slowdown in subscriber growth, a top company official said.
“We are in that phase where we are growing very healthily,” Netflix India’s VP-content, Monika Shergill, stated, adding that success in streaming is determined by the level of engagement, revenue, and profit.
Netflix India has revealed its 2024 content slate, featuring 14 scripted and unscripted shows and documentaries and eight movies, to boost user engagement on the platform and onboard new subscribers.
“We are talking to the broadest audience through our commissioned and licenced content,” she said.
In addition to its previous post-paid partnerships, Netflix is partnering with telecom operators to offer bundled prepaid plans to broaden its reach. Most mobile customers in India are on prepaid plans.
Shergill emphasised the significance of continuously expanding offerings and enhancing the value provided through various means, including access and plans.
Apart from original web series and international content, the Netflix executive stated that films remain a crucial content genre for the platform, as Indian audiences spend a lot of time watching films.
“The great thing about streaming is that it allows for flexibility, which no other medium allows for,” she noted.
Byju’s rapid decline has put a big dampener on that excitement. Yet, online education is still a viable proposition in the world’s most-populous nation, though it’s the test-prep market that has real demand, not K-12 or coding.
The deal, which has been in the works for months, will create a media behemoth across TV broadcasting, streaming, movies and sports. The deal values the joint venture at Rs 70,352 crore ($ 8.5 billion) on a post-money basis, excluding synergies. Post completion of the merger, the JV will be controlled by RIL with 16.34% stake.
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