Netflix has generated an economic impact of USD 2 billion through its productions in India, according to the streaming giant’s co-CEO Ted Sarandos. Speaking at the inaugural World Audio Visual and Entertainment Summit (WAVES) at the Jio Convention Centre, Sarandos highlighted that the company’s projects in India have created 20,000 jobs for cast and crew.

“Since 2021 through 2024, especially after COVID, when things got back to normal, we’ve invested in India in a way that has created USD 2 billion of economic impact from our productions, over 20,000 cast and crew jobs from our productions in India,” Sarandos said.

He pointed out that Indian content was viewed for a total of three billion hours globally last year, with at least one Indian title consistently appearing in the global top 10 each week.

“In those productions, we have 150 original films and series that were filmed in 100 different towns and cities in India,” he added.

Sarandos was speaking at the session “Streaming the New India: Culture, Connectivity & Creative Capital”, moderated by Bollywood star Saif Ali Khan, who headlined Netflix’s first Indian original series “Sacred Games” in 2018 and recently starred in the streamer’s heist movie “Jewel Thief”.

“We’ve been operating in India now for nine years. But we took our big swing seven years ago with ‘Sacred Games’…And I knew that India would be a very important part of our journey.”

“What we found with ‘Sacred Games’ is that great stories could transcend borders, languages and cultures, and really talk to the world. ‘Sacred Games’ proved that. I’m just so endlessly thrilled to work with the creative community in India all the time,” Sarandos said.

He also praised India’s vibrant cinema culture, noting that audiences not only enjoy watching films but also actively engage in discussions around them.

“It’s what makes India so exciting for me too. What streaming has done is kind of got to the audience where they were. If you want to watch a movie, I want to be able to deliver it to you,” Sarandos said, adding that in the US, an average person watches two films in cinema in a year, while on OTT, they watch seven films.

When asked by Saif Ali Khan whether cinema and streaming can coexist, Sarandos affirmed that they can—highlighting India as a prime example of this harmonious balance.

“India is probably one of the more fan-centric places that enables this to happen because they don’t get into these debates necessarily about how long the (theatrical) windows need to be. I think that’s a very big debate in a few countries around the world. I assure you that nobody, except for distributors, are talking about windows,” he said.

Sarandos shared that he grew up in a small town near Phoenix, Arizona, where watching a movie—particularly unconventional ones—meant driving 45 minutes to the nearest cinema.

“And now, because of streaming, you can deliver movies that are very obscure. It isn’t all one kind of big movie for the world. It’s what kind of movies do you like that you can pick that night. I hope cinemas continue to exist. I love going to the movies too,” he said.

During the conversation, Sarandos asked Saif Ali Khan about his experience in the streaming space. Saif described it as the “most liberating” experience for himself and countless other artists around the world.

“Earlier, we had to kind of fit into some sort of boxes, and there was a form in local style for the kind of thing you had to do. And today, thanks to streaming, we can explore characters in a very different way, and go into much more depth.

“And it is a fantastic platform to showcase all kinds of things, long form storytelling… there’s a kind of intimacy on the platform,” he said.

Saif noted that writing for streaming platforms has become more nuanced and sophisticated, offering greater opportunities for in-depth character development.

“There’s no rush to wrap things up in two hours. You can let the story unfold at its own pace. And for someone like me who enjoys exploring characters, it’s a great time to be an actor. Also it gives the opportunity to bring longer stories to life, like books that we’ve read that you could maybe see,” Saif added.

The actor also said that India has a treasure trove of stories that haven’t been told before or explored in depth. “Like the amazing epics Mahabharata and Ramayana. To make that  ..

Netflix’s continued growth in India highlights the profound economic impact of streaming platforms on the entertainment industry. With substantial investments in local content, job creation, and the evolving relationship between cinema and digital platforms, Netflix is not only reshaping how audiences consume media but also driving a significant boost to India’s economy. As the industry continues to evolve, the collaboration between traditional cinema and streaming services promises a dynamic future for both creators and viewers alike.