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Monday, 11 November 2019 14:22

Netflix records 700% growth in revenue due to regional content

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Regional content is the king; the greater emphasis on local content creation and great marketing has helped Netflix record more than 700% growth in its revenue during 2018-19.

Netflix India reported revenues of Rs. 466.7 crore for FY19 with a net profit of Rs. 5.1 crore. In FY18, Netflix India had a turnover of Rs. 58 crore with Rs. 20 lakh net profit, which reflected financials for seven months starting September last year after the actual transfer to local distribution entity from Singapore.

Mohit Yadav, founder of Veratech commented: “A combination of factors including original content for India, partnership with Airtel for better access to market and fixing payment issues helped Netflix. All this combined with new low cost-based variants for a price-sensitive Indian market is the reason behind Netflix's phenomenal growth.”

Netflix has low digital video viewers in the country compared to rivals due to its relatively high prices and low amount of local-language content. Its monthly subscriptions start at Rs. 500, which doesn’t allow simultaneous viewing. Higher plans (`650 and `800) allow for multiple users and simultaneous viewing.

Netflix doesn’t share subscriber numbers of individual markets.

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