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Netflix Goes The ‘Aam Aadmi’ Way: Considers Lower Pricing In India
Netflix logo. (Pascal Le Segretain/Getty Images)
Netflix Inc, the California-headquartered media services provider, is said to be exploring options to reduce its pricing in order to increase its subscriber base, Mint reported.
“We will experiment with other pricing models not only for India, but around the world that allow us to sort of broaden access by providing a pricing tier that sits below our current lowest tier,” Netflix Chief Product Officer (CPO) Gregory Peters said in a call after the company reported its earnings. According to the company’s Chief Executive Officer (CEO), Reed Hastings, Netlfix India also plans to add content in languages other than English and Hindi.
The company, which has become a pop phenomenon on the back of its hugely popular movie and TV show streaming service, entered the Indian market in January 2016. However, due to its unaffordable pricing, with basic plans starting at Rs. 500/ per month, it still ranks at position 5, behind Hotstar, Alt Balaji, Eros Now, and Amazon Prime Video. The cheapest monthly subscriptions for Hotstar and Amazon start at Rs 83. However, due to its focus on the premium segment and original content, Netflix still rakes in the most revenue.
“We will experiment with other pricing models not only for India, but around the world that allow us to sort of broaden access by providing a pricing tier that sits below our current lowest tier,” Netflix Chief Product Officer (CPO) Gregory Peters said in a call after the company reported its earnings. According to the company’s Chief Executive Officer (CEO), Reed Hastings, Netflix India also plans to add content in languages other than English and Hindi.
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