Netflix grows engagement in India by 30% in Q1 2023 after price cuts

A significant price reduction in subscription tiers in India has helped Netflix grow engagement in the country by nearly 30 per cent (year on year) in the first quarter of 2023, the streaming giant has announced.

Over time, Netflix has adapted our prices to meet local needs and to further deepen its penetration, it lowered prices in India by 20-60 per cent in December 2021.

“These reductions — combined with an improved slate — helped grow engagement in India by nearly 30 per cent year on year while F/X neutral revenue growth in 2022 accelerated to 24 per cent (versus 19 per cent in 2021),” the company said in its March quarter earnings late on Tuesday.