Netflix continued healthy after-market trade in the US on October 19 after rallying to a record high a day earlier on higher-than-expected quarterly results. Gregory K. Peters, Netflix's co-CEO, mentioned in the earnings call the steady flow of hit titles from countries such as India.
Along with mentioning the country that flaunts a massive regional catalogue, Peters talked about Thailand and South Korea, stressing the "decade-plus investment in those creative communities, working with local storytellers there and making sure that they have the capability to tell their stories in a compelling way."
Earlier this week, Netflix announced the return of Emmy-award winner comedian Vir Das to the fore with a new untitled special. "This special will be an unapologetic direct shot of happiness to the heart... I’m honoured to be able to showcase Indian comedy on a global stage," said Das in the official Netflix statement.
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The streaming giant's India arm also dropped a trailer for ‘Do Patti’. This debut directorial by Shashanka Chaturvedi reunites Dilwale costars Kajol and Kriti Sanon, with the former in a career-first role as a police inspector. "This being the first time I play a police officer, I can't wait for my fans to see me in this new avatar," noted Kajol in a statement.
‘Do Patti’ is slated for an October 25 release, while Das’s special is yet to get an official date for streaming. Other notable titles include Anupam Kher’s ‘Vijay 69’ releasing on November 8, and Raj & DK's much-awaited action-fantasy series, ‘Rakt Bramhand - The Bloody Kingdom’.
On October 18, Netflix posted a profit of USD 5.40 (Rs 454) per share on revenue of USD 9.8 billion (Rs 82,388 crore) for the quarter, above the market estimates, despite continued subscriber growth. The global streaming giant added just 50.7 lakh subscribers this quarter, as opposed to 87.6 lakh subscribers in the same period last year. Net additions have steadily declined in the financial year.
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Netflix India has not made significant hikes to its plan in quite a while, with its standard subscription receiving a price hike back in January 2022. However, research firm Jefferies recently noted that the streaming platform may increase the price of its select plans in the country by the end of this year.