Netflix sees an uptick in user engagement in India after reducing prices
Content streaming platform Netflix, which
reduced its subscription prices in India late last year, is witnessing an
uptick in user engagement in the country, as it doubles down on creating more
localised content.
In a first quarter (Q1) earnings call with analysts, Netflix said it has
seen a nice growth in the country after it announced in December that its
mobile-only plan was available at Rs 149 per month, and entry-level plan at Rs
199 per month.
"The product fit incorporates subscription prices as well as
willingness and ability to pay. So we have seen a nice uptick in engagement in
India. We are definitely taking it in the right direction," Netflix co-CEO Ted
Sarandos said late on Tuesday.
According to Netflix COO Greg
Peters, the subscribers in India are largely behaving similar to the
subscribers they have added over the last 12 months.
"So not a fundamental difference. And really, this was a bet
in terms of long-term revenue maximisation, which is sort of how we think about
the top level, the valuatory model we have for these things," Peters told
analysts.
He said that Ted's team "is doing some incredible work on
Indian content, and we saw the slate there".
"And we're really excited about a bunch of titles that were
coming down and thought there was an opportunity to broaden the audience that
got to see those titles," he announced.
Comments
Post a Comment