During his recent visit to India, Co-Chief Executive Officer Ted Sarandos stated that Netflix saw a 25 percent increase in revenue and a 30 percent increase in engagement and watch time.

He went on to say that the Indian market would experience the fastest growth in 2022 and that the country’s paid subscription numbers were the highest in the world.

The Co-CEO also stated that Netflix does not intend to launch advertising in India in 2023.

According to Economic Times, Sarandos said, “So far, only 12 markets have rolled out advertising-driven model along with the existing subscription format.

While Netflix is actively attempting to convert the shared password model to real accounts to generate revenue, the company is “nudging” people in India in that direction. “We’re trying to send a message that personalization is better when you don’t share the password,” Sarandos told the press.

Sarandos stated last week at the Economic Times Global Business Summit that there will be a continued investment push in the Indian market, and that it will receive a larger share of the platform’s $17 billion budget.