New Delhi: Online content streaming platform, Netflix on Tuesday said that it has reduced its subscription prices upto 60% in India, reported PTI. The company said that the decision was taken to get more new viewers on board amid rising competition in the Over The Top segment in India.
Under the revised rates that would roll out from Tuesday, Netflix’s mobile subscribers would now be available at Rs 149 a month which was earlier Rs 199 per month. Whereas the basic plan has been priced at Rs 199, instead of Rs 499. The Standard plan would be charged at Rs 499 per month while the Premium plan at Rs 649 a month.
The Standard and Premium plans were earlier charged at Rs 649 and Rs 799 per month, respectively.
Netflix India Vice President- Content, Monika Shergill said, "We are dropping our prices and it's across the board, across our plans. This will include all our service - 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 Rs 499 to Rs 199."
Shergill added that the price drop would be power-packed with a slate that the company was going to launch.
The online streaming platform was launched in India in 2016 with its subscription plan starting from Rs 500. Since then the company has modified the subscription prices and also introduced a mobile-only plan for the Indian audience.
"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,” said the company official.
She added that the new prices would appeal to everyone including the first time users joining the platform.
While Netflix has announced a price drop for subscription, Amazon has announced an increase in the subscription rates of its Prime membership which includes content and other benefits. Amazon has increased the subscription rates by 50 % in India to Rs 1,499. Monthly and quarterly fees were also hiked.