India brought in the second-highest number of paid subscriber additions for Netflix in the second quarter of 2024, which it attributed to a strong content lineup that resonated with the Indian audience.

What Happened: Netflix said India ranked third in terms of percentage revenue growth for the quarter. However, the streaming behemoth refrained from revealing specific subscriber or revenue figures for the Indian market.

In the second quarter of 2024, Netflix gained 80.5 lakh subscribers globally, of which 28.3 lakh users were from the Asia-Pacific (APAC) region, which includes India. This region was the top contributor to Netflix’s member additions.

The APAC region’s revenue skyrocketed to $1.05 billion (around ₹8,781 crore), a 14.5% increase from the same quarter in the previous year. Netflix’s overall revenue climbed to $9.56 billion (around ₹79,954 crore) for the quarter, marking a 16.8% growth.

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The surge in India was driven by successful original titles such as Sanjay Leela Bansali’s Heeramandi: The Diamond Bazaar and Imtiaz Ali’s Amar Singh Chamkila. Licensed films like Kiran Rao’s Laapataa Ladies and the Ajay Devgn and R Madhavan-starrer Shaitaan also played a significant role in the streaming service’s growth in the country.

Netflix co-CEO Ted Sarandos attributed the growth in India to the company’s ability to attract and retain members and monetise them effectively through a strong content and product market fit.

Despite the price-sensitive nature of the Indian market and stiff competition from rivals offering lower prices, India has become an increasingly important market for Netflix’s future growth.

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