Netflix shares soared 5.2 percent in premarket trading following a strong third-quarter earnings report that highlighted significant subscriber growth, particularly in India. The streaming giant added 5.1 million new subscribers globally, beating Wall Street expectations by more than 1 million, and projects even bigger customer sign-ups for the upcoming December quarter.
The company’s revenue in the Asia Pacific (APAC) region, which includes India, rose 19 percent year-on-year to $1.13 billion, driven by a strong local content offering. Netflix’s strategy to improve its product and market fit in the region has paid off, with India becoming a key growth driver. The country accounted for 2.28 million of the 5.1 million new paid members added in the third quarter, bringing total Netflix subscribers to an impressive 282.72 million.
“India is a big prize for Netflix, with its vast population and growing appetite for digital content,” a company spokesperson said. Local productions like *Maharaja*, starring Vijay Sethupathi, which garnered 22.6 million views, are helping to solidify Netflix’s presence in the highly competitive Indian market.
Despite challenges posed by price-sensitive consumers and stiff competition from rivals such as Amazon Prime Video and Disney+ Hotstar’s joint venture with Reliance Industries, Netflix has made significant progress. The company’s recent success can be attributed to popular original titles and strategic adaptations to local preferences.
Investment analysts are optimistic about Netflix’s growth potential in India. “Netflix’s results are a testament to its enduring appeal,” said Dan Coatsworth, investment analyst at AJ Bell. “As it continues to push its edge in content creation, the platform is likely to attract even more subscribers.”
With the holiday season approaching, Netflix will release highly anticipated content, including the second season of Squid Game, which is expected to drive further subscriber growth. The company’s focus on revenue and operating margins, along with its goal of improving user engagement, positions it well for continued success in the region.
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