Netflix india

NEW DELHI: Streaming service Netflix is disrupting the entertainment business across the world, producing cult hits like ‘House of Cards’ and ‘Stranger Things’ with a budget of $8 billion to produce original shows in 2018. With over 117.5 million subscribers in over 190 countries who consume over 140 million hours of TV shows and movies per day, the company was able to grow its streaming revenue by 36% to over $11.6 billion, adding 24 million new members. On the back of this growth, the company has seen its share price double in the last 12 months, helping it reach a market capitalisation of $120 billion.

The company is led by Reed Hastings, a serial entrepreneur who has helped transition the company from a mail order business for DVDs to a technology and content powerhouse. The 57 year old entrepreneur sat down with ET during his visit to India for the Economic Times Global Business Summit to talk about progress it has made in India, future of the studio business and advise for startups