HYDERABAD: India is poised to become a top growth market for Netflix this year, said CEO Ted Sarandos here on Friday.
According to Sarandos, India has emerged as the fastest growing market for the OTT giant globally with a 30% growth rate in view hours, 25% revenue growth year-on-year and the highest paid net additions for any country globally. He attributed this to Netflix finally getting its product-market fit right after it dropped prices a couple of years ago, ended password sharing in July as well as a booming Indian economy.
“India is growing very quickly and that’s a testament to getting the product-market fit right.You have to have the right price point for the population, you have to have the programming that people love and when you get that right, the growth potential is enormous,” said Sarandos.
“If you think about India, generally, I know it’s a big population but, in general, how accessible it is to us has a lot to do with the growth of the Indian economy. We are seeing more people in India with the ability, the willingness and desire to pay than we did a few years ago,” he added.
Pointing out that Netflix’s growth is tied to the growth in internet connected television in India, Sarandos said: “Our growth tracks very nicely to internet connected TVs, so while a lot of people watch programming on phones in India just like other places in the world, the real paid relationship with content and programming comes on the TV.”
According to Sarandos, India has emerged as the fastest growing market for the OTT giant globally with a 30% growth rate in view hours, 25% revenue growth year-on-year and the highest paid net additions for any country globally. He attributed this to Netflix finally getting its product-market fit right after it dropped prices a couple of years ago, ended password sharing in July as well as a booming Indian economy.
“India is growing very quickly and that’s a testament to getting the product-market fit right.You have to have the right price point for the population, you have to have the programming that people love and when you get that right, the growth potential is enormous,” said Sarandos.
“If you think about India, generally, I know it’s a big population but, in general, how accessible it is to us has a lot to do with the growth of the Indian economy. We are seeing more people in India with the ability, the willingness and desire to pay than we did a few years ago,” he added.
Pointing out that Netflix’s growth is tied to the growth in internet connected television in India, Sarandos said: “Our growth tracks very nicely to internet connected TVs, so while a lot of people watch programming on phones in India just like other places in the world, the real paid relationship with content and programming comes on the TV.”
