Netflix Sees 700% Growth In 2018-19

by GoNews Desk 1 week ago Views 979
Netflix Sees 700% Growth In 2018-19
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After its launch in India in 2016, Netflix is making huge strides year after year, with a massive jump in its growth in financial year 2018-2019.

According to new figures, Netflix India has registered a growth of 700% in financial year 2018-2019. The biggest reason for this success is the local content shown on the platform.

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In the year 2018, Netflix had a business transaction of Rs 58 crore, which increased to become Rs 466.7 crore in 2019. Also, Netflix had a profit of Rs 20 lakh in 2018, which increased to become Rs 5.1 crore in 2019.

The main reason for this growth is showing local content, among which series like ‘Sacred Games’ and ‘Leila’ were hugely popular, even though part two of ‘Sacred Games’ did not set the cash registers ringing.

Apart from local content, Netflix’s ‘mobile only’ plan has also proved very effective. Due to this plan, Netflix managed to get around 3-4 lakh subscribers. At present, there are more than 1.2 million Netflix subscribers in India.

Meanwhile, the biggest company in terms of users and business -- Hotstar -- is making losses instead of earning profits.

In 2018, Hotstar earned Rs 571.5 crore and in 2019, it earned 1112.7 crore. However, due to rising expenses, it had to suffer a loss of Rs 389 crore in 2018 and Rs 554.38 crore in 2019.

Watch the full report here: