Streaming giant Netflix slashed the prices of all four of its subscription plans in India on Tuesday. The reduced rates come as Netflix moves aggressively to ramp up its base in a country
that is crucial for its business and still has millions of untapped users. Furthermore, Amazon Prime, Disney+Hotstar, Apple TV+, and other video-on-demand (SVoD) platforms such as ZEE5 and SonyLIV compete fiercely with the
streaming app.
Netflix has announced revised rates in India, which start at Rs 149 per month, down from Rs 199 earlier. All customers will be able to use the new plans. With the new plans, the American
behemoth has decided to align its services with those offered by other streaming providers in the country.
Furthermore, the Rs 499 Basic plan will now cost Rs 199, a significant reduction in pricing.
The premium plan, which provides simultaneous access to four devices, has been reduced to Rs 649 from Rs 799, while the standard plan, which permits access to two, has been dropped to Rs
499 from Rs 649).
The benefits of these plans remain unchanged, and nothing has changed in that department. The Netflix Mobile package now starts at Rs 149, although it will only work on a 480p-resolution
mobile or tablet. The account can only be viewed by one device at a time with this plan.
The basic plan, which costs Rs 199 per month, would be limited to 480p, although customers will be able to access their accounts via computer and television.
The standard Rs 499 plan includes support for up to two devices at the same time, as well as 1080p resolution. This subscription allows subscribers to watch content on any device, including
their phones, tablets, computers, and televisions.
The premium Netflix service now costs Rs 649 and allows for simultaneous use of up to four devices. Subscribers to this service can watch content in 4K resolution on any device, including
their phones, tablets, computers, and televisions.
Netflix's subscriptions are now comparable to those of its competitor Amazon Prime, which has increased its subscription rates by up to 50%, with a monthly plan starting at Rs179 and
an annual plan starting at Rs 1,499.
Netflix revenue
Netflix, according to Media Partners Asia (MPA), is far behind in terms of global subscription customers. It is expected to add 5.5 million users by the end of 2021, significantly fewer
than Hotstar Disney (46 million) and Amazon Prime (35 million) (21.8 million).
However, in terms of revenue, it is at the top of the list. Netflix had a 38 percent share of subscription revenue in 2020, Amazon Prime had 19 percent, and Disney Hotstar had 21 percent
of the US $ 504 million video-on-demand revenue.
According to analysts, the price reduction will help Netflix expand its customer base and compensate for the revenue loss. Netflix faces stiff competition in its home market of the United
States and is clearly focusing on India.
“Indians are hungry for entertainment and will consume more. India will be one of the most promising SVOD markets globally as well as in the APAC region,” said Monika Shergill,
vice president for content at Netflix.