Netflix India slashes prices across its streaming plans, now available at Rs 149/M
The company has termed the new plans as ‘Happy New Prices’
In a bid to increase its user base in India, Netflix has reportedly reduced its prices across its subscription plans.
The company has launched its mobile plan to Rs 149/month which was Rs 199/month earlier. The basic plan costs Rs 199/month from Rs 499/month. The standard plan stands at Rs 499/month instead of Rs 649/month. The premium plan is now slashed to Rs 649/month from Rs 799/month, as per the media reports.
In 2019, Netflix had launched its consumer-friendly mobile plan at Rs 199/M, which led to a spike in net subscriber numbers.
The streaming giant has termed the new plans as ‘Happy New Prices.' The price change will happen on December 14, 2021 and will come into effect from the next billing cycle for members.
Monika Shergill, Vice President, Content, Netflix India, said, "Over the last three weeks, we have been rolling out big titles. And as per the Netflix calendar, we will have big titles across series and films coming out regularly. And it is the kind of content that is programmed for a very large audience. And now that content is ready for this large audience, it was just the right time to go deeper, to appeal to a wider base. The aim is to create value through entertainment but also at great prices," according to the media reports.
"There will be growth and there will be tremendous profitability because we know the kind of entertainment we have programmed will get more people on the service. It's been a complex process. We have been creating great content across the board despite the shutdowns and restarts. But now we are ready to really fire big through our content, and this was the right time to bring the price change," added Shergill.
As per Netflix India’s ROC filings, the company’s topline in FY21 stood at Rs 1526.36 crore, compared to Rs 923.33 crore in the corresponding year, as per the reports.
