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With 25% revenue growth, India fastest growing market for Netflix in 2022: Ted Sarandos

India is set to receive a larger share of the streamer’s $17 billion budget.

Ted Sarandos, Co-Chief Executive Officer, Netflix, said amongst all the markets the streaming company operates in, India witnessed the fastest growth in 2022. It recorded a 30% increase in engagement or watch time and a 25% rise in revenues in India. 

Addressing a select group of journalists on Friday, he said, "It had the highest net paid additions in 2022."

Sarandos said that these are exciting times in India with recent movies like RRR and Gangubai Kathiawadi, becoming breakout successes in the West. “We hope Indian movies will do well globally, but even otherwise, the Indian market itself is so big,” he said.

During a promotion event for the upcoming Netflix series Heeramandi, Sarandos told Indian filmmaker Sanjay Leela Bhansali on Saturday, "India is the fastest growing Netflix market in the world this year and because of that, we’re able to continue to invest in great storytelling. And I think when you see ‘Heeramandi,’ you’re gonna see why it has been such the honor of a lifetime to work with Sanjay and to be able to bring this to screen. And you ain’t seen nothing yet."

Addressing the Economic Times Global Business Summit on Friday, Sarandos said there will be a continued investment push in the Indian market and it will receive a larger share of the streamer’s $17 billion budget. “In India, we’ve had the best year of our existence,” Sarandos said. 

He also met the Union Information and Broadcasting Minister Anurag Thakur in Delhi on Friday to discus the expanding creative economy of the country. They also discussed India’s regional content which is amongst the most viewed content internationally.

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