23 Jul 2024
In the April-June 2024 quarter, Netflix added 8.05 million subscribers to log 277 million subscribers globally, 16.5% higher than last year's second quarter.
In a market driven by the youth, Netflix applied the strategy of displaying alluring content like Kota Factory or Laapataa Ladies. Heeramandi became its highest-watched series in the June quarter with 15 million views, while Chamkila secured the second position with 8.3 million views. These two contributed to Netflix's revenue spike to $9.6 billion in the June quarter, an almost 17% growth compared to last year.
Netflix launched a ₹149 mobile-only, ad-free plan in India compared to a similar $6.99 mobile plan in the US supported by ads. In 2023, it raised prices across the UK, US, and France, except India, where it enjoys higher volumes instead of heavier rates. It also tied up with Jio who rolled out prepaid mobile plans and Jio AirFiber and JioFiber plans with a Netflix subscription.
India emerged as its second-largest base in terms of net paid subscriber growth and the third-largest revenue-generating market.