Netflix to Become More Affordable in India With the Launch of a New Subscription Plan
Netflix has confirmed that it will be launching a lower-priced subscription plan for India, which will make the streaming service more affordable in the country.
Netflix has announced the roll out of a less costly subscription plan for India. The global streaming giant confirmed this at the Q2 2019 earnings call, as the company wants to boost growth in India. However, details such as the launch date of this new subscription plan and the exact pricing and content availability has not been confirmed. The plan will be made available to subscribers within this quarter though. During the meeting, Netflix CEO Reed Hastings said, “After several months of testing, we’ve decided to roll out a lower-priced mobile-screen plan in India to complement our existing plans. We believe this plan, which will launch in Q3, will be an effective way to introduce a larger number of people in India to Netflix and to further expand our business in a market where Pay TV ARPU is low (below $5). We will continue to learn more after launch of this plan.”
In Indian currency, $5 or lower would mean around INR 300 per month or lower for the mobile-only plan. Netflix currently offers three monthly plans in India, which are priced at INR 500 (Standard Definition and streaming on one device), INR 650 (High Definition and streaming on two devices) and INR 800 (Ultra HD streaming on four devices simultaneously).
Netflix has not mentioned anything regarding annual subscription plans, which its competitors offer. The streaming service faces competition in India from Hotstar, Amazon Prime Video, Sony Liv and Zee5. Hotstar offers Hotstar VIP at INR 365 per year and a premium plan priced at INR 199 per month or INR 999 per year. Amazon Prime Video is available at INR 129 per month or INR 999 per year. Its prime subscription also comes with other benefits. Meanwhile, Sony Liv costs INR 499 per year for premium and Zee5 charges INR 999, an annual subscription for the All Access Pack.