Netflix Slashes Subscription Rates In India, All You Need To Know About New Plans
Our binge-watch sessions on Netflix are going to be a little pocket-friendly now. On Tuesday, the streaming giant Netflix informed that it will be slashing its monthly subscription rates in India. It will reduce the subscription rates up to 60 percent in India, in order to attract viewers when the competition in the over-the-top (OTT) media service space is continuously growing in the country. The new plans are being termed as ‘Happy New Prices’ and will start from December 14, 2021.
According to the new plans, the users will now pay Rs.149 a month which was Rs.199 earlier for Netflix’s Mobile. The basic plan for the same period will be now Rs.199 instead of Rs.499. The standard plan of Netflix will be charged at Rs.499 per month which was Rs.649 earlier. For the premium subscription, the users will now have to pay Rs.649 for a month. The plan earlier charged at Rs.799.
Talking about the reduction in Netflix subscription rates, Netflix’s Vice President for Content Monika Shergill said, “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 percent 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 Rs.499 to Rs.199.”
She further added that Netflix had great momentum since it launched in India, especially over the last couple of years. When Netflix came in, it was a kind of service that brought global content. “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 said in an interview.
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Netflix was launched in the year 2016 in India. It has been a major streaming platform premium with subscription plans starting from about Rs.500. Not only has the company changed pricing but also introduced a mobile-only plan in the country. Some of the major competition of Netflix are Amazon Prime Video, Disney+ Hotstar, YouTube along with local streaming platforms. Recently, Amazon announced that it will raise the price of the annual membership of its Prime programme, which includes content and other benefits, in India by 50 percent to Rs.1,499. It will also raise monthly and quarterly fees. Meanwhile, Disney+ Hotstar charges Rs 1499 yearly for premium services and Rs.499 for Disney+ Hotstar mobile.
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