Netflix added 1.1 million paid subscribes in the Asia-Pacific region in the second quarter (Q2) this year.
The Average Revenue per Membership (ARM) was -2 per cent (year-over-year), due to the impact from “our price decrease in India last December as well as plan mix,” Netflix told shareholders after declaring Q2 results.
“The product fit incorporates subscription prices as well as willingness and ability to pay. So we have seen a nice uptick in engagement in India. We are definitely taking it in the right direction,” Netflix co-CEO Ted Sarandos had said.
In APAC in Q2, Netflix’s revenue grew 23 per cent year over year.
“At over $900 million of revenue, APAC is approaching the size of our LATAM business. We added 1.1 million paid memberships in the region (vs 1 million in last Q2),” the company informed.
The company said that it is in a position of strength “given our $30 billion-plus in revenue, $6 billion in operating profit last year, growing free cash flow and a strong balance sheet”.
