Netflix Bets on Reality TV and Bollywood to Win India

Netflix is reshaping its India strategy around familiar television franchises, reality formats and Bollywood films, moving away from its early focus on premium, urban-oriented originals.

The shift is visible in recent content choices, including Lock Upp, The Great Indian Kapil Show and deals for MTV Hustle and MTV Roadies. Media reports put the Roadies deal with JioStar at around ₹18 crore.

Results are showing

In the July-September quarter of 2026, Netflix's India revenue rose 18% year-on-year on a foreign-exchange-neutral basis, while viewing hours grew 24%. The company also recorded its largest-ever quarter of paid net additions in the country. It credited a strong local slate and its first transaction-based loyalty bundle with Flipkart.

Netflix said Lock Upp, its first daily reality series, generated the highest viewing hours of any title on its Indian platform over its first 91 days. The contrast with 2021 is stark: then-CEO Reed Hastings called India a "frustrating" market where the company had not got its flywheel spinning.

The company is also deepening its film and regional offering. A deal with Yash Raj Films brought titles such as Dilwale Dulhania Le Jayenge and Sultan to the service, and a two-year partnership with Bengali platform Hoichoi will make shows available in Hindi, Tamil and Telugu. An Ormax Media analysis found Netflix held 36% of streaming rights across 126 films that crossed one million footfalls in 2025.

Crowded field, heavy costs

Competition is intense. JustWatch's Q2 2026 data shows Netflix and Amazon Prime Video tied at 22% of measured consumer interest, while JioHotstar offers plans from ₹79 a month and Amazon has unveiled nearly 55 Indian originals.

Financials show growth at a price. Netflix Entertainment Services India LLP reported net profit up 63% to ₹85 crore in FY25 on revenue of ₹3,769 crore, up 32%. Total expenses rose 32% to ₹3,711 crore, with other expenses, including content and marketing, at ₹3,616 crore.

Whether cheaper-to-reach formats can turn audience growth into durable profit in smaller cities is the question now facing the company.