Streaming giant Netflix has added 1.1 million paid subscribers in the Asia-Pacific region in the second quarter of 2022. The ARM (Average Revenue per Membership) was two percent, because of the impact from their price decrease in India in December 2021, along with plan mix.
In December 2021, Netflix announced new and reduced prices in India, along with the mobile-only plan starting at 149 rupees in India. In India, Netflix users can now pay 149 rupees a month, down from 199 rupees earlier, for the mobile pack of Netflix for the same period.
The standard price of Netflix in India is now 499 rupees per month, and the most expensive Netflix plan, which is called the premium plan, now costs 649 rupees per month, down from 799 rupees per month.
In the first quarter of 2022, the streaming company saw an increase in user engagement in India, as it has doubled down on creating more content locally. Ted Sarandos, chief executive officer of Netflix, said this product fit incorporates subscription prices and also willingness and ability to pay, and so they have seen a nice increase in engagement in India, and they are definitely taking it in the proper and right direction.
In the Asia-Pacific in the second quarter of 2022, Netflix’s revenue grew 23 percent year over year. Netflix informed us that at more than 900 million dollars in revenue, the Asia-Pacific region is approaching the size of their LATAM business.