Netflix to stream new season of ‘Masaba Masaba’ on 29 July
Premium- The film stars Masaba Gupta and her mother, Neena Gupta, playing themselves
NEW DELHI : American streaming platform Netflix will premiere the second season of Masaba Masaba, a biographical drama streaming television series based on the life of Masaba Gupta on 29 July. It stars Masaba Gupta and her mother, Neena Gupta, playing themselves.
Netflix lost 1 million global paid subscribers in the April to June quarter, faring better than the 2 million figure it had forecast, but paling in comparison to the 1.5 million added in the same period a year ago. Average revenue per membership (ARM) in the APAC (Asia and Pacific) region was down 2% year-on-year, it said, because of the price drop in India last December. The company that recently announced Microsoft as technology and sales partner has a lower-priced, advertising plan in the offing that will complement its existing plans and launch early 2023. There are also plans to monetize the 100 million plus households that are consuming but not directly paying for the service.
“We added 1.1 million paid memberships in the (APAC) region (versus 1 million last Q2). ARM in APAC was -2% year-over-year, due to the impact from our price decrease in India last December as well as plan mix, which was partially offset by higher ARM in Korea and Australia. Excluding India, APAC ARM grew 4% year-over-year on a constant currency basis," the company said in a letter to shareholders. Over the last two quarters, the Reed Hastings-owned platform has attributed its slowing revenue growth to connected TV adoption, account sharing, competition, and macro factors such as sluggish economic growth and the impacts of the war in Ukraine.
MINT PREMIUM See All
Overall, the service that forecasts 1 million paid net additions worldwide for Q3 versus 4.4 million in the year ago quarter, said it foresees high impact of the unprecedented appreciation in the US dollar because nearly 60% of its revenue comes from outside the US.
Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less