Netflix adds 1.75 million paid subscribers in Q1
The streaming platform has said that slashing of prices helped the engagement grow in India by up to 30% year on year
Netflix has released its financial report for the first quarter. It has added 1.75 million paid subscribers in Q1. In the last quarter of 2022, the streaming platform had added 7.66 million.
The total count of global paid members stands at 232.5 million.
Its revenue has seen 4% growth year on year in Q1 with operating income now being at $1.7 billion.
The company has said that the slashing of prices has helped the engagement grow in India by up to 30% year on year.
Over time we’ve adapted our prices to meet local needs and to further deepen our penetration, including lowering prices in India by 20%-60% in December ‘21. These reductions – combined with an improved slate – helped grow engagement in India by nearly 30% year on year while F/X neutral revenue growth in 2022 accelerated to 24% (versus 19% in 2021).
