Netflix likely to close 2020 with 4.6 million paid subscribers in India: Report
- In September, Netflix India partnered with Jio, to offer a free mobile-only subscription to post-paid subscribers at plans starting $5.3 per month ( ₹399) and above
NEW DELHI: Its partnership with Reliance Jio is expected to help American streaming service Netflix close the year with 4.6 million paid subscribers in India, according to a recent analysis by Media Partners Asia, an independent provider of research, advisory and consulting services across media, telecom, sports and entertainment industries in the Asia Pacific region.
Over-the-top (OTT) video streaming platform Netflix may notch up average revenue per user or ARPU of $5, the report added.
Overall, the service is expected to command more than 25 million subscribers in the Asia Pacific region by the end of 2020. India could comprise up to 9% of the platform’s global revenue share in Q3 2020.
In September, Netflix India partnered with Jio, to offer a free mobile-only subscription to post-paid subscribers at plans starting $5.3 per month ( ₹399) and above. Subscribers are offered an option to upgrade to traditional plans. Netflix is also hard-bundled with Jio’s fixed broadband service with free access to subscribers opting for data plans starting $20 per month ( ₹1,499) and above. Netflix, in July 2020, started testing a $4.7 per month ( ₹349) ‘mobile plus’ plan in India, which allows single HD streaming on mobile, tablets and laptops.
The mobile-specific plans have been coupled with the launch of a Hindi user interface as well as local Indian offerings such as Jamtara- Sabka Number Ayega and She, original films like Guilty, Choked and Bulbul which have been big hits during the lockdown, along with foreign titles such as Extraction, Old Guard, Money Heist, Never Have I Ever and a host of Korean, Spanish and Japanese content.
“Unlike other countries, India hasn’t really seen this kind of premium storytelling and is a new and nascent market. We want to create Indian stories for Indian and global audiences,” Monika Shergill, vice-president, content, Netflix India had said in an earlier interview to Mint.
According to its filing with the Registrar of Companies first reported by The Economic Times, Netflix India reported revenues of ₹923.7 crore and net profit of ₹8.9 crore for the fiscal year 2019-2020.
Catch all the Business News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Business NewsNewsIndiaNetflix likely to close 2020 with 4.6 million paid subscribers in India: Report
First Published:2 Nov 2020, 03:10 PM IST
- Top Gainers
- Top Losers
- 52 Week High