Netflix India cuts subscription plan fees by 60% in expansion efforts

By Akshay Kedari  Date: 2021-12-15

Netflix India cuts subscription plan fees by 60% in expansion efforts

Netflix India has reportedly slashed the rates of all four of its subscription plans in India. The move comes amidst growing competition in the OTT space and to increase the user base in a country where a significant chunk of the population remains largely unexplored.

Sources claimed that the streaming service's base plan, which allows a single user to access a device for approximately USD 6.56, has been reduced to USD 2.61, representing a 60% discount. The HD quality plan for mobile use only, which also accounts for nearly half of Netflix's customer base, has also been reduced from USD 2.61 to USD 1.96.

Meanwhile, the standard plan has been lowered from USD 9.19 to USD 6.56, while the premium plan where four users can together access the same ID on different devices was whittled down from USD 10.50 to around USD 8.53

Monica Shergill, the Content VP at Netflix India stated that the entertainment service is delivering value in addition to lower prices with a massive content lineup, hinting at the company's intentions for the country in the upcoming years.

Notably, Netflix tops the charts in terms of revenue, contributing 38% of the USD 504 million video-on-demand revenue, Amazon Prime and Hotstar control only 19% and 21% respectively.

Despite this, Netflix is far behind in terms of its global membership base, and it is predicted to add 5.5 million subscribers by the end of 2021 in a market where Hotstar Disney already has 46 million monthly active users while Amazon Prime accounting for 21.8 million.

The streaming giant’s pullback comes at a time when its main competitor, Amazon Prime, has raised its annual subscription pricing to approximately USD 20. However, a Prime membership includes value-added services such as music streaming and free Amazon delivery as well.

Source credit:

https://www.business-standard.com/article/companies/netflix-cuts-fees-for-all-plans-in-india-moves-to-expand-in-country-121121400162_1.html

About Author

Akshay Kedari     aeresearch.net

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More

More News By Akshay Kedari

Tesla gets German nod to develop test cars at unfinished Berlin factory

Tesla gets German nod to develop test cars at unfinished Berlin factory

By Akshay Kedari

Tesla Inc. has reportedly received authorization to produce test cars at its unfinished German gigafactory. This approval comes as the EV maker continues to wait for the project's final permission, although Tesla will not be permitted to sell the...

Power Gummies secures USD 6 million in 9Unicorns-led Series A funding

Power Gummies secures USD 6 million in 9Unicorns-led Series A funding

By Akshay Kedari

Nutraceutical startup Power Gummies has reportedly raised USD 6 million during a Series A funding which was led by 9Unicorns. The round also saw participation from other investors such as NB Ventures, Sharpp Ventures (Marico Family Office), Wipr...

Marriot establishes a research & development lab to promote innovation

Marriot establishes a research & development lab to promote innovation

By Akshay Kedari

Hospitality behemoth Marriott International Inc. has reportedly established a research and development lab called the “Design Lab” to strengthen and optimize the rollout of its current product offerings. This lab will encompass all areas...

Sony to steer into the electric vehicle space with a new mobility unit

Sony to steer into the electric vehicle space with a new mobility unit

By Akshay Kedari

Sony will establish a subsidiary, ‘Sony Mobility Inc.’ that will primarily focus on its EV business. The company unveiled a new electric SUV prototype, called the Vision-S 02 at CES 2022. Sony Group Corporation, a Japanese electroni...

Apple becomes world's first company to reach USD 3 trillion valuation

Apple becomes world's first company to reach USD 3 trillion valuation

By Akshay Kedari

Apple Inc. recently became the first company to have a stock market value of USD 3 trillion, boosted by investor confidence that the iPhone manufacturer will continue to release best-selling products while foraying into new markets such as self-drivi...