Netflix has finally announced its cheapest streaming plan for the Indian market: A Rs 199 monthly plan for mobile app users only. Announced at the Netflix House in Delhi, the plan will offer Standard Definition (SD) content at Rs 199 a month and will be the company's cheapest offering in India.
Netflix announced the plan with a video ad titled ‘Netflix, now in your pocket’, which promises the entire range of Netflix original and syndicated content in your pocket.
Earlier reports that Netflix would be announcing cheaper plans in India had predicted a price point of Rs 250. The announced price is even cheaper, putting Netflix in between Amazon Prime video and Hotstar in terms of pricing. For comparison, Netflix competitors Hotstar and Amazon Prime have monthly plans starting at Rs 299 and Rs 129. However, in terms of annual plans, Amazon and Hotstar offer cheaper plans than Netflix with Rs 999/year and Rs 365/year starting price points.
Currently, Netflix offers three plans: A Rs 499 ‘Basic’ plan for one device, a Rs 649 ‘Standard plan’ for up to two devices and with HD-support, and a Rs 799 ‘premium’ plan with HD, Ultra-HD and support for up to four devices.
Unlike the Standard plan, the new mobile plan will not support casting. This means that you cannot use it on a mobile phone and then ‘share’ the screen to a larger display like a connected TV.
Existing Netflix users can shift to the new plan by clicking on the ‘Change Plan’ option in their settings.
The change in pricing comes as Netflix reported a loss in users in the United States for the first time in a decade, coupled with a slower rate of growth worldwide than anticipated in the second quarter. Netflix had earlier raised the price of its streaming service for US subscribers from $10.99 to $12.99 .
Against announcements that Netflix (NASDAQ:NFLX) had lost 130,000 US-based subscribers by the end of its second quarter, the company's share price dropped.
According to a report by Bangalore-based management consultancy Redseer, Netflix had 11 million subscribers in India. Its closest rival was Amazon Prime Video, with 13 million subscribers. Hotstar led the trio with over 200 million subscribers in India. The company hopes to add seven million paid subscribers in its third quarter this year.