New price of Netflix subscription plan
If we talk about the entry-level plan of Netflix, it can now be purchased at the price of Rs 149 instead of Rs 199. In this, users will be able to watch movies and web series in standard definition i.e. SD on the same mobile, tablet, computer, or television screen at a time. While the price of its mid-level plan has come down from Rs 649 to Rs 499. In this, movies and web series can be seen in HD.
Netflix’s most expensive plan was priced at Rs 799, but now it can be purchased for only Rs 649. In this, users will be able to watch videos in Ultra High-Definition i.e. Ultra HD.
Netflix has around 36% market share in India’s SVOD market.
Netflix India VP Content Monica Shergill said that the high cost of Netflix plans has been one of the major impediments to service growth in the country, especially when competing with rivals like Disney+ Hotstar, Amazon Prime Video, Zee5, and Sony Liv.
Therefore, the company has taken the step of reducing the price of the plans to connect more and more users with them.
The price cut comes even as arch-rival Amazon Prime has increased its annual plan from Rs 999 to Rs 1,499. The gap is narrowing as the most basic Netflix mobile-only plan now works out to about Rs 1,800 a year.
But Amazon Prime offers other add-on features such as free delivery and a music service. “The average pricing for OTT apps in the country today 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.”