Netflix says user engagement up in India even as global subscribers log out

The fall worldwide was the first in over a decade, though the streaming service was making good progress in APAC, it said

Streaming giant Netflix on Wednesday said it was seeing an “uptick” in user engagement in India, even as it lost 200,000 subscribers globally in the first quarter of 2022. Netflix follows a January-December accounting year.
 

The firm also projected that it will shrink by another 2 million customers in the second quarter. As a result, the stock plunged 37 per cent by 9.45 pm IST on Wednesday.
 

The uptick in India, the company said during an investor call, was led by both local content initiatives as well as affordable subscription packs, prompting a wider set of users to try out the