Netflix is one of the largest streaming service providers in the world and a lot of its growth continues to be fuelled by its sharp success in India. Monika Shergill, Vice President, Content, Netflix India, recently explained to Variety in detail about the streaming service’s strategy and plans to keep the trajectory going.
She told the publication, “A healthy streaming business, according to us, has to be built on the strong fundamentals of engagement, where we are doing very well, and revenue and profit as a global service. We are a profitable service – in many of our markets, we are on the path to profitability.”
Apart from knowing the pulse of the Indian audience in terms of the kind of content that they want to watch, the streamer also knows that India is a price-sensitive market. To attract more subscribers, Netflix brought down its prices in late 2021.
Talking about the same, Shergill said, “What we have been seeing with the pricing shift is that we’ve really opened access to a large audience base that is keen to watch Netflix, which is why we have been seeing the kind of momentum that we’ve had over the last year. From a revenue standpoint, despite the price recalibration, the fact that our revenue increased by 25% is an indicative factor that we have grown. Addressing pricing constantly is not the way to grow – bettering your content and providing more value by way of the content we create, the content we buy, the different genres, formats, tastes, and moods that we program for, also bettering our product features constantly is the way for us to grow the service, which is how we have re-accelerated in the last year. We’ve had a tremendous Q1.”
She further added, “Our prices of bundles are very meaningful and we want to get audiences into Netflix, who will be engaged with Netflix, and who will see the value of the content,” Shergill said. “Just having all of this being coordinated together has really set us on a growth trajectory.”
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