Netflix India VP-content Monika Shergill claims that the company is increasing its content investments and has a very ambitious content schedule for 2023. The streaming service’s highest net subscriber additions ever worldwide in 2022 resulted from the introduction of an aggressive pricing strategy in December 2021 and the accompanying aggressive slate of Indian original films and licensed films.
Netflix India’s revenue, according to Monika Shergill, increased by 25% year over year, while the number of hours watched increased by 30%. Netflix Entertainment Services India’s gross revenues at the end of FY21 were Rs 1,529.36 crore, according to Tofler’s financial data.
As a result of the company’s efforts to reevaluate their pricing and enhance the value they offer to customers through ongoing, significant, and entertaining stories across genres, Monika Shergill claims that their engagement has increased by 30% and revenue has increased by 25%. Monika Shergill claims that Netflix India is doing well in terms of revenue, profit, and customer engagement.
According to Monika Shergill, running a streaming business is not a race to the bottom. You won’t get a lot of subscribers who might or might not be interested in your service if you discount it or bundle it with other services.
In December 2021, Netflix decreased the monthly cost of its mobile-only pricing plan from Rs 199 to Rs 149. The new pricing plan was followed by an aggressive content schedule that included over 28 original films, in addition to the premieres of notable Hindi and South Indian films like RRR, Gangubai Kathiawadi, Godfather (Telugu), Don (Tamil), Major (Telugu), The Ghost (Telugu), and Beast (Tamil).
Monika Shergill stated that Netflix will continue to invest in original content because India is a significant market for the platform. She added that Netflix India will have the largest library of original content of any platform in 2023. It has already produced over a hundred originals in the country.
They are committed to making long-term investments in India, according to Monika Shergill. They have learned a lot along the way, and as of 2023, their business is doing well. They are confident in their position as long-term leaders in comparison to other operators in this industry.