Netflix Sparks $2 Billion Economic Impact in India Post-Pandemic

Netflix Co-CEO Ted Sarandos announced a $2 billion economic impact from Netflix's investments in India, highlighting job creation and infrastructure support. In a dialogue with Saif Ali Khan at WAVES Summit, they discussed streaming's role in storytelling, its global reach, and the coexistence of cinema and streaming platforms.

Ted Sarandos, Netflix's Co-CEO, revealed on Saturday that the company's investments in India have led to an economic impact exceeding USD 2 billion since the COVID-19 pandemic. At the World Audio Visual and Entertainment Summit (WAVES) in Mumbai, Sarandos emphasized the creation of jobs, development of skills, and enhancement of infrastructure stemming from Netflix's filming activities in over 100 towns and cities across 23 Indian states, in collaboration with over 25,000 local cast and crew members.

During a conversation with actor Saif Ali Khan, Sarandos acknowledged the unpredictable future of storytelling, yet stressed the industry's persistent aim to engage audiences. The discussion explored the transformative potential of streaming platforms on storytelling, creative freedom, and India's burgeoning status on the global entertainment stage, as highlighted by the Ministry of Information & Broadcasting.

Saif Ali Khan, reflecting on his work with Netflix in 'Sacred Games,' noted the liberation streaming platforms offer actors and filmmakers from conventional constraints. Khan discussed the democratic nature of streaming, where global audiences access diverse tales anytime, inspiring a continuous cycle of watching and creating. The duo agreed that cinema and streaming could coexist harmoniously, with Sarandos asserting that theatrical releases maintain their significance and Saif adding his preference for projects rooted in Indian culture.

Praising the WAVES platform, both Sarandos and Khan saw it as a driver of creative collaboration between global and Indian creators. Sarandos stated that successful ideas from the summit could achieve unimaginable success, while the event fostered dialogue, innovation, and cultural exchange among international visionaries and industry experts, as per the Ministry's release. (ANI)

(With inputs from agencies.)