Netflix: Indian streaming subscription plan dropped as low as INR 199 per month for any device
Netflix has decided to reduce the prices of its subscription service in India. According to Bloomberg, a Netflix subscription is up to 60% cheaper in India than it was previously. Netflix hopes that the new prices will make it 'more accessible' to Indian audiences.
This is only the latest round of India-specific price cuts, though. In 2019, Netflix discounted its subscriptions by up to 50% if people committed to a 3-month membership. Mihir Shah, Vice President and Head of India at Media Partners Asia, explains:
The most meaningful reduction is the basic price plan which opens up the funnel for significant new customer growth. It will also mean that they will have to go deeper -- local and more regional in their content.
Currently, India is the biggest streaming market outside the US. For context, Disney Hotstar has 46 million Indian subscribers, compared to Amazon Prime Videos' 19 million subscribers. By contrast, Netflix has 5 million subscribers on its books in India. Netflix's subscription plans in India are now as follows:
- Mobile: INR 149 per month (US$2)
- Basic: INR 199 per month (US$2.60)
- Standard: INR 499 per month (US$6.50)
- Premium: INR 649 per month (US$8.50)
Source(s)
Bloomberg & @ishanagarwal24, David Balev - Image credit
