Streaming giant Netflix recorded its highest-ever quarterly net growth in paid subscribers in India during the quarter ending in September 2026. This achievement was driven primarily by a robust lineup of local content and the launch of a transaction-based loyalty offering in partnership with Flipkart.
In its quarterly letter to shareholders, Netflix reported that its revenue in India grew by approximately 18% year-over-year, calculated on a foreign exchange-neutral basis. Total viewing hours increased by 24% year-over-year, while viewing time per member saw low-to-mid single-digit percentage growth.
Netflix did not disclose the specific number of net new paid subscribers in India, nor did it reveal how many users were acquired through the partnership with Flipkart.
During the third-quarter earnings call, Co-CEO Greg Peters cited India as an example of how locally produced programming translates into higher engagement, subscriber growth, and revenue.
Local Content Drives User Engagement
Netflix’s first daily reality series, Lock Upp, generated more viewing hours in India than any other title on the platform during the first 91 days following its release.
The series Musafir Cafe reached 9 million views, while Operation Safed Sagar garnered 11 million views.
The strong performance in the Indian market is part of broader growth across the Asia-Pacific, Latin American, and EMEA (Europe, Middle East, and Africa) regions. Peters noted that localized content in these regions is fueling both user engagement and business growth.
He also stated that subscriber retention remains strong across all regions. Globally—and specifically in the United States—the churn rate (the percentage of users leaving the service) improved year-over-year in the third quarter and came in lower than the company’s initial projections.
On a global scale, Netflix reported revenue of $12.87 billion for the third quarter of 2026, a 12% year-over-year increase. Operating income rose by 37% to $4.46 billion, with the operating margin expanding to 34.6%, up from 28.2% in the same period the previous year.
Netflix expects its revenue to reach $51.1 billion in 2026, a 13% increase year-over-year.
Neumann stated that subscriber growth, pricing, and advertising are expected to drive strong revenue growth in 2027, although the company has not yet issued official financial guidance for that year.
Netflix also plans to launch its ad-supported subscription service in an additional 15 countries in 2027, with the first of these rollouts scheduled for March.