Monika Shergill on Netflix India’s record-breaking 2024: Regional content, big hits, and unstoppable growth

While all eyes were fixed on the ₹70,532 crore Reliance-Disney-Star deal, it was Netflix India which quietly stole the show in 2024 with blockbuster content like Heeramandi: The Diamond Bazaar, Amar Singh Chamkila, The Great Indian Kapil Show and IC-814: The Kandahar Hijack. The Indian arm of the American streaming service (which has an estimated 12 million subscribers) in the second quarter of 2024 became the third largest contributor in terms of revenue and was second in terms of paid net ads (subscription). Its revenue grew by 29% to ₹2,485 crore while its next profit surged by 49%.

 “Last year was a milestone year for Netflix India in terms of the stories we told and the growth we experienced. We have definitively put Netflix India on the global map as well as have expanded in a big way in India,” says Monika Shergill, vice-president (content), Netflix India, who claims that the year 2024 was the most successful year in the history of Netflix India.

Heeramandi, says Shergill, was on the top 10 weekly chart in over 70 countries for months. The show is known to have garnered 15 million views, while Amar Singh Chamkila got 8.3 million views.  “Heeramandi did better than RRR which was our previous big film which went global. We dubbed Heeramandi in 13 languages, which was a first for us. 

The Great Indian Kapil Show enabled us to bring co-viewing in a big way on a streaming platform. We got a new set of audiences.” So, what has worked in favour of Netflix India? Shergill likes to believe that it was their ability to get good quality content irrespective of language to travel across India as well as globally that has worked in their favour. “We had the most successful year in films, both original and licensed. In licensed, 7/10 blockbusters in Hindi were on Netflix, we also had 7/10 top grossers in Telugu and 4/10 top Tamil grossers.”

Advantage Regional Content

When Netflix launched its service in India in 2016 it largely streamed its global content. Original Indian shows were far and few and the platform catered mostly to the English-speaking metro audience. However, Shergill says that the plan always was to go mass. Its first attempt towards attracting the masses was launching a mobile friendly subscription plan of ₹199 per month. It was still way more expensive than the likes of Jio (which also have AVOD service) and Amazon Prime Video which had plans for ₹499 a year. Though Netflix is yet to have an AVOD service in India, it is now big on regional content.    

Netflix India is relatively new to regional and Shergill claims that it has been a game-changer for them. “Regional cinema has a much more authentic voice, closer to people voice. Regional cinema does stories even from a rustic sort of setting and they become commercial blockbusters. Their drama is closer to people, it is bolder and has a more matured voice.” In fact, Shergill says that regional content, especially cinema from South India is cutting across masses and cultures and has more takers than Hindi content. “It is travelling to other markets in dubbed languages. The good thing is that stories from one part of the country are also travelling to other parts. One of the biggest thing streaming has enabled is you don’t need to experience a story from Bengal on the linear channel or go there and watch it in a theatre.”

“Hindi cinema has big hits and lull periods; it is right now trying to find a rhythm. South cinema has more rhythm,” she adds. Netflix India’s goal, says Shergill is to create Indian content that would resonate across the country and globally. And, the content could be in any Indian language. She says films like Maharaja (Tamil) and Lucky Baskhar (Telugu) resonated across the country.   

While regional was surely one of the front-runners, Shergill claims that in 2024 there was not a single content vertical which didn’t fire for Netflix India. “Be it scripted or unscripted reality content, original series, films or regional, our content won the heart of masses,” she claims. Her response to what Netflix India’s strategy would be to compete against a mammoth like JioStar, is rather diplomatic. “I am bullish about the changes that are happening. For every platform it will be important not just to tell the best stories but also to generate revenue and be profitable, because that is how the industry sustains. Our focus would be on unique story-telling and reaching all our members and potential members in the unique Netflix way.”