Netflix's India investments generated over USD 2 billion in economic impact post-COVID: Co-CEO Ted Sarandos

"Our investments in India have generated over USD 2 billion in economic impact, post-COVID. That's all the jobs created, skills developed, and infrastructure supported. We've filmed across 100+ towns and cities in India across 23 states, and collaborated with over 25,000 local cast and crew," the Netflix CEO said while talking to actor Saif Ali Khan in an engaging conversation on the third day of the inaugural World Audio Visual and Entertainment Summit (WAVES) at Jio World Centre in Mumbai today.

When asked about the future of storytelling, the co-CEO of the American subscription video streaming company said, "It's very difficult to predict where storytelling is headed. But what remains constant is the intent to connect with audiences."

The conversation on the theme "Streaming the New India: Culture, Connectivity, and Creative Capital" explored the evolving landscape of storytelling in the digital era, the impact of streaming on creative freedom, and India's growing presence on the global entertainment map, as added in a Ministry of Information & Broadcasting release.

Saif Ali Khan, reflecting on his collaboration with Netflix in the popular series Sacred Games, emphasised the transformative power of streaming platforms. "Earlier, we had to conform to rigid formats. Streaming has liberated actors and filmmakers from those constraints. Now, people across the globe can watch our stories, which they might have missed in traditional cinema," he said.

Elaborating on the democratisation of filmmaking in India, he said, "Audiences can access diverse stories anytime, and creators have more freedom to tell them. It's a continuous cycle of watching and making."

Addressing the coexistence of cinema and streaming, Sarandos reaffirmed that theatrical releases still hold value. "Cinemas are not outdated. Streaming and theatres are not competitors. They can move ahead coexisting each other as the market before us is huge," he said.

Saif echoed the sentiment, adding that the most meaningful projects for him are those rooted in Indian culture. "If someone abroad asks me about my films, I talk about Omkaara or Parineeta -- films deeply connected to our culture. There's something incredibly thrilling about telling our own stories to the world," he said.

Both Sarandos and Saif praised WAVES as a platform that amplifies the creative synergy between global and Indian storytellers. Sarandos praised the initiative, saying, "If the ideas presented here work, they'll succeed beyond imagination. WAVES is a fantastic platform for that momentum."

The WAVES summit continues to bring together visionaries and industry experts from across the globe to shape the future of the entertainment industry through dialogue, innovation, and cultural exchange, the Ministry's statement added. (ANI)