Mumbai, May 3: Netflix Co-CEO Ted Sarandos announced on Saturday that the streaming giant’s investments in India have contributed over USD 2 billion to the country's economy since the COVID-19 pandemic.
“Our investments in India have generated more than USD 2 billion in economic impact post-COVID. This includes job creation, skill development, and infrastructure support,” Sarandos said during a conversation with actor Saif Ali Khan at the inaugural World Audio Visual and Entertainment Summit (WAVES), held at the Jio World Centre in Mumbai.
He highlighted Netflix’s widespread presence in India, noting that the company has filmed in more than 100 towns and cities across 23 states, working with over 25,000 local cast and crew members.
When asked about the future of storytelling, Sarandos admitted it’s difficult to predict, but emphasized the enduring goal of connecting with audiences.
The discussion, titled “Streaming the New India: Culture, Connectivity, and Creative Capital,” delved into how streaming platforms are reshaping storytelling, enhancing creative freedom, and expanding India’s footprint in global entertainment, according to a release from the Ministry of Information & Broadcasting.
Reflecting on his experience starring in Netflix’s hit series Sacred Games, Saif Ali Khan spoke about the platform's transformative impact.
“In the past, we had to stick to rigid formats. Streaming has freed us from those constraints. Now, our stories can reach global audiences who might have missed them in traditional cinema,” he said.
On the broader impact of streaming, Khan emphasized how it has democratized storytelling in India. “Audiences can now access diverse narratives anytime, and creators have more freedom to share them. It’s a constant cycle of watching and creating,” he added.
Addressing the relationship between traditional cinema and streaming, Sarandos stressed that both formats have their place. “Cinemas aren’t obsolete. Streaming and theatres aren’t in competition—they can thrive together. The market is big enough for both,” he said.
Khan agreed, noting that the projects most meaningful to him are those rooted in Indian culture. “When someone abroad asks about my work, I mention Omkaara or Parineeta—films that are deeply connected to our heritage. There’s something powerful about sharing our stories with the world.”
Both Sarandos and Khan commended the WAVES summit for fostering collaboration between Indian and global storytellers. Sarandos lauded the event, saying, “If the ideas shared here take off, they could exceed all expectations. WAVES is an excellent launchpad for that kind of momentum.”
The summit continues to serve as a dynamic platform for industry leaders and creatives worldwide to shape the future of entertainment through innovation, dialogue, and cross-cultural exchange, the Ministry noted.
