India Among Top Performing Markets For Netflix In Second Quarter
India emerged as one of the top performing markets for US-streaming major Netflix Inc. for the quarter ended June 2024.
(Bloomberg) -- India emerged as one of the top performing markets for US-streaming major Netflix Inc. for the quarter ended June 2024.
India ranked second in paid net additions and third in percentage revenue growth, according to the company’s second-quarter filing. The performance was backed by the success of titles such as , biopic and licensed films such as and the filing said Thursday.
“India’s growth is a story that we see around the world playing out very similarly,” said Theodore Sarandos, co-chief executive at Netflix, in a post-earnings call. “The product market fit is what drives our ability to attract members and retain members and monetize with them as well.”
Netflix added 8.05 million customers in the second quarter, out of which 2.8 million came from Asia-Pacific region. Netflix didn’t disclose specific revenue and subscriber numbers for the Indian market.
The firm’s overall earnings rose 48% to $4.88 a share in the quarter, beating estimates of $4.74. Revenue increased 17% to $9.56 billion, slightly exceeding projections. It ended the quarter with 277.7 million customers worldwide.
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