One of the biggest video streaming giants, Netflix announced the latest subscription plans in India on December 14. This decreased value of its monthly subscription can be seen as a way to reach out to the wider user base in India.
Earlier in the month of July 2019, Netflix launched its cheapest plan in India to attract more users to the streaming platform this plan was for mobile and tablet only which was available for Rs 199. This plan will now be available for Rs 149 after the second price slash of Netflix in the country.
The Basic plan which can be used on mobile phones, tablets, computers, and TV has been slashed to Rs 199 from an earlier rate of Rs 499. This is the biggest price drop deal which is almost about 60%.
“That is a huge one and the idea behind it is to really get our members and the audiences who will be coming on Netflix through all this new content that we are doing… to be able to experience Netflix on any device of their choice…which is why the difference between the mobile plan and the all devices plan is a smaller margin,” Monika Shergill, VP-Content, India, Netflix, told The Hindu.
In addition to this, the standard plan that can be watched on all kinds of devices in better video quality and 1080p resolution is now available for Rs 499 instead of the earlier Rs 649 per month. There is also the premium plan, which is available across four kinds of devices, but which offers the best video quality with 4K + HDR, which is now available for Rs 649 instead of Rs 799 per month.
It appears Netflix’s Dec. 14 date for a price reduction is intentional since Amazon Prime Video India is increasing its prices on the same day. An annual subscription to Prime Video has risen by 50% from INR 999 to INR1,499. Amazon Prime Video’s monthly plan goes up from INR129 to INR179, while the quarterly plan goes up from INR329 to INR459.
Therefore it is quite evident that through this move Netflix is trying to make a strong foothold in the Indian market. In a bid to capture a bigger share of the price-sensitive Indian streaming market, Netflix has sharply reduced its subscription price plans in the territory which will definitely help Netflix to scale up its subscriber base over the medium-to-long term.