Netflix said: “Our approach with pricing is to grow revenue and so far, uptake and retention on our mobile plan in India has been better than our initial testing suggested. This will allow us to invest more in Indian content to further satisfy our members. While still only a very small percentage of our total subscriber base, we’re continuing to test mobile-only plans in other markets.”
Netflix bounced back in its Q3 2019 financials by posting revenue of $5.245 billion, which was almost in line with analysts’ prediction of $5.25 billion and was up by 31 per cent y-o-y. While the expected earnings per share were $1.04, Netflix boosted that by delivering $1.47. This is almost double the 89 cents that it had delivered a year ago.
At present, Netflix has 158.33 million subscribers globally. Average streaming paid memberships and ARPU grew 22 per cent and 9 per cent year-over-year, respectively.
Netflix has announced that the company was focused on expanding its non-English language original offerings to help penetrate international markets. The quarter saw the debut of Sacred Games S2 which Netflix said has become its most-watched show in India.