Netflix revenue soars 700% on desi content, marketing

MUMBAI: The Indian unit of Netflix Inc, the world’s largest online video streaming company, grew more than 700% during 2018-19, helped by expanding local content and marketing blitzkrieg that helped bring subscribers.

Netflix India reported revenues of Rs. 466.7 crore for FY19 with a net profit of Rs. 5.1 crore, according to its filing with the registrar of companies sourced from Veratech Intelligence. In FY18, Netflix India had a turnover of Rs. 58 crore with Rs. 20 lakh net profit, which reflected financials for seven months starting September last year after the actual transfer to local distribution entity from Singapore.