Netflix's revenue in India grew 18 percent year on year on a foreign-exchange-neutral basis in the July-September quarter of 2026, while viewing hours rose 24 percent, the company said in its Q3 shareholder letter released on October 20. The Netflix India revenue growth came alongside the company's largest-ever quarter of paid net additions in the country.
The figures cover the quarter ended September 30. Netflix said viewing hours per member in India grew in the low-to-mid single digits during the quarter. The company did not disclose absolute India revenue or the number of paid members added in the country.
Globally, Netflix reported revenue of $12.87 billion for the quarter, up about 12 percent, with net income of $3.66 billion, up 44 percent from a year earlier. The shares slid in after-hours trading on October 20 after the company's fourth-quarter forecast came in below Wall Street estimates, and Netflix cut its 2026 advertising revenue target to about $2.7 billion from roughly $3 billion. India was the bright spot in the quarter.
How Netflix India revenue grew in Q3
The 18 percent increase was measured on a forex-neutral basis, which strips out currency movements. On an absolute basis, viewing hours in India grew 24 percent, co-CEO Greg Peters told investors on the earnings call, pointing to a strong content slate with a couple of titles performing particularly well. The Netflix India revenue result shows what happens when the slate lands, the company told shareholders.
Peters described the India performance as "a great example of how the core model works." He said delivering member value produces the business outcomes the company looks for. The company said it wants to accelerate growth in view hours and is confident of doing so by executing its content strategy.
What drove the Netflix India revenue jump
The slate was led by Lock Upp, Netflix's first daily reality series in India, which drove the most viewing of any title on Netflix in India ever, based on viewing hours in the first 91 days. The show clocked more than 125 million viewing hours during its six-week run and has been renewed for a second season. Netflix credited the slate, led by Lock Upp, with driving the Netflix India revenue result in the quarter.
The new scripted series Musafir Cafe drew 9 million views and the military drama Operation Safed Sagar drew 11 million views in their first three months. Netflix renewed Musafir Cafe for another season in August.
Alongside content, the Netflix India revenue story in Q3 had a distribution push. In July 2026, Netflix launched its first transaction-based loyalty bundle with Flipkart. Under the tie-up, Flipkart Plus members can earn a monthly Netflix Mobile Plan by completing four qualifying shopping orders on the platform each month. Netflix said the bundle helped deliver the record quarter of paid additions.
What Netflix said about its India business
Chief financial officer Spencer Adam Neumann said the company is "not satisfied" with the current pace of view-hour growth and wants it to grow faster, though revenue growth remains healthy. He said revenue growth is currently being driven by three levers: membership growth, pricing and advertising, and he expects all three to keep contributing in 2027.
The Netflix India revenue figures sit inside a wider Asia-Pacific story. India was cited alongside South Korea and Japan as an example of the local-content strategy working in the region. Co-CEO Ted Sarandos said the company's international content capabilities, built around producing local programming for local audiences, had become an important competitive differentiator over the past decade. Sarandos said the company sees room to build on the Netflix India revenue momentum through better content choices and execution.
India has become a key content hub for Netflix, producing local programming for local audiences while feeding the global catalogue. Netflix also expanded its advertising technology platform during the quarter, adding programmatic access through connected-TV marketplace deals and partnerships with MercadoLibre in Latin America and Adform in Europe, the Middle East and Africa. The company plans to roll out its advertising-supported tier in 15 additional countries in 2027.
The Netflix India revenue result for Q3 sets up the fourth quarter, for which the company forecast $13.4 billion in global revenue, about 12 percent year-on-year growth.