Netflix tests quarterly, half-yearly and annual subscription plans in India
Ever since the widespread availability of 4G-enabled smartphones, the Indian market has become a hotbed for video streaming services. A monthly subscription is easily available for as low as Rs 129 ($1.75). It is a part of the reason why Netflix doesn't have a lot of takers in India. Netflix's Rs 199 ($3) per month mobile-only plan has helped change that a bit, but the company still only has a 5% market share in the Indian video streaming space. A proper Netflix experience starts at Rs 499 ($7) for the entry-level Basic plan and Rs 799 ($10) for the top-tier Premium subscription.
Netflix is reportedly testing a new strategy to woo Indian consumers. A three-month Premium plan will soon be available for Rs 1,919 ($27). It will save you 20 percent off the full price (Rs 2,397/$34). Similarly, a six-month package will cost Rs 3,359 ($48), saving you 30 percent off the full price (Rs 4,794/$68). Lastly, a one-year subscription will retail at Rs 4,799 ($68). It is the most cost-effective of the lot as it reduces the amount you pay by a whopping 50 percent. These options won't be available to everyone immediately. Netflix will very likely test the public reception before rolling them out nationwide.
It'll be interesting to see how consumers react to these new prices as they are still relatively high compared to other services. For example, both Amazon Prime Video and Hotstar cost only Rs 999 ($14) for a year and are significantly more popular compared to Netflix. Competitive pricing alone won't help Netflix gain a foothold in India. The company also has to cater to the millions of non-English speakers and create content for them.