Netflix, a US-based video streaming platform and production company, offers a 60 percent subscription fee to stay competitive in India and attract customers. The announcement was made by the company on Tuesday. News of Hindustan Times.
Netflix started its journey in India in 2016. Since then, the company has reduced the subscription fee once in 2019.
Netflix lags behind other OTT platforms in India. Another Indian media outlet, LiveMint, reports that Netflix has 5 million subscribers in the country. In contrast, Amazon Prime Video has 19 million subscribers. And Disney Hotstar has 46 million subscribers. According to data provided by research firm Media Partner Asia, by 2024, India will have 100 million screen subscribers to such OTT platforms. Eighty-five percent of these subscribers will access these OTT platforms using broadband internet.
Now Netflix is saying that the new price of the ‘mobile’ package that can be seen on a screen has been set at Rs 149. Earlier, it was priced at Rs 199. High definition video can be seen in it. Netflix’s ‘Basic Plan’ price has been reduced by 70 percent. Earlier it was priced at Rs 499. Now it costs 199 rupees. However, its resolution is 480 pixels. The standard plan is priced at Rs 499. It used to cost Rs 749. Netflix’s highest priced plan was priced at Rs 699. Now it is priced at Rs 749.
Monica Sergill, Netflix’s India official, commented that customer fees have been reduced to reach more viewers.