Netflix the streaming giant revealed on Monday that it will cut prices across all its plans. Now the starting price of the Netflix plan starts from Rs 149, instead of Rs 199. This price cut comes from inflexible rivalry from other streaming platforms that offer their plans for a suggestively lesser amount than Netflix.
The 25 percent price slash across all four plans in India is the second time the streaming giant has cut prices in the country. Netflix released its economy plan for India at Rs 199 per month in July 2019, which industry specialists said controlled to enticing subscribers on the streaming platform.
The inexpensive plan Netflix was for mobile-and-tablet-only viewing for Rs 199, which has been reduced to Rs 149. The basic plan, which can be viewed across mobile phones, tablets, computers, and TV, has been slashed to Rs 199 per month from the earlier Rs 499.
Netflix’s new plans in India
The standard plan that can be watched across all the four kinds of devices but has improved video quality and 1080p resolution is now available for Rs 499 instead of the earlier Rs 649 per month.
The top tier plan or the premium which is also accessible across the four kinds of devices but has the finest video quality with 4K + HDR video quality is currently accessible for Rs 649 per month as a replacement for Rs 799. The fresh plans come into result from 14th December.
It must be stated here that only people who live with the user of a plan can access the account. In the premium plan, four people can watch from one account at the same time, while two people can watch with the standard plan and only one person at a time can watch with the basic and mobile plans.
The price slash also derives as the American streaming firm has been proclaiming a host of fresh titles, international and Indian, such as Red Notice, The Harder They Fall, and The Princess Switch, Dhamaka, and Meenakshi Sundareshwar. R Madhavan and Surveen Chawla-starrer Decoupled are planned to be launched in December.
India Netflix Plans 2022
|Monthly Price||149 Rupees||199 Rupees||499 Rupees||649 Rupees|
|Devices you can watch||Phone, Tablet||Phone, Tablet, Computer, TV||Phone, Tablet, Computer, TV||Phone, Tablet, Computer, TV|
In the meantime, rivalry like Disney+ Hotstar provides their premium plan at Rs 1,499 annually. Amazon Prime Video membership is priced at Rs 1,499 annually.
The price clash originates even as arch-rival Amazon Prime has increased its annual plan from Rs 999 to Rs 1,499. The gap is thinning as the most basic Netflix mobile-only plan currently works out to about Rs 1,800 a year.
But Amazon Prime bids other add-on features such as free delivery and a music service. “The typical pricing for OTT apps in the country nowadays for annualized plans in terms of total subscriber revenue/number of subscribers is around Rs 500. Netflix’s pricing even in the basic plan is still almost three times that at Rs 1,800,” says Elara Capital SVP and research analyst Karan Taurani.
Netflix has around 36% market share in India’s SVOD market as it is the most leading player in the pure-play video OTT service, says Taurani. He further said that “Netflix has almost 214 million paid subscribers’ greater share of this is from advanced nations which are mostly entered. Hence, India provides a big break for Netflix if they were to expand the subscriber base. India is a large market prospect with plenty of infiltration chances in tier 2 and tier 3 towns. With enlarged smartphone users and an inexpensive data price, this is certainly a marketplace which will aid step up Netflix subscriber base over the medium-to-long term,”.