Netflix has slashed its subscription prices in India by 60%. The streaming giant shared the announcement on Tuesday, December 14 by taking to social media.
According to the new report, users will now pay Rs 149 a month from Rs 199 earlier for Netflix’s Mobile and Rs199 instead of Rs499 for its basic plan for one month.
Meanwhile, Rs 499 and Rs 649 are still available for two devices and HD and four devices and UHD options respectively. These plans were earlier charged at ₹649 and ₹799, respectively. Netflix which first launched in 2016 has always received slack for high prices which started from Rs 500 per month. The streaming giant then introduced mobile-only plan in the country with SD viewing services at a cheaper rate.
Monika Shergill, Netflix vice president for content (India), opened up about the change in plans and told PTI, «We are dropping our prices and it’s across the board, across our plans. This will include all our services – local and global. The biggest drop of 60 per cent is in the basic plan because we want the audiences to watch Netflix on a bigger screen or on any device, so that has gone down from ₹499 to ₹199.»
«But in the last two-three years that has been changing dramatically and we are expanding our slate… The whole focus is on reaching our larger set of audiences out there, it’s a very organic expansion strategy to go out there,» she added.
Many competitive OTT services have taken center stage in the last two years. Netflix competes with Amazon Prime Video, Hotstar, YouTube, MX player, Voot, SonyLIV and many other local players in the Indian market.