Netflix launches a super-cheap mobile-friendly version of the streaming platform in India that costs just $2.80 a MONTH
- Streaming giant has launched ambitious bid to attract a huge user base in India
- They’ll charge customers 199 Indian Rupees monthly – which converts to £2.30
- Plan is restricted to one device and lowest-quality streaming without mirroring
Netflix has already cornered the on-demand streaming market in much of the world and now it is making a move to conquer an emerging and lucrative market – India.
It has launched a super-cheap mobile-friendly version of its platform in the country that costs just $2.30 each month (Rs 199).
The media giant’s plan is restricted to one device and standard-quality streaming without the option of TV mirroring, but is still expected to attract millions of users.
It comes as Netflix bosses battle for custom with other big brands in India, such as Disney’s Hotstar, which has 300 million users, and Amazon Prime Video.
New deal: The media giant’s plan is restricted to one device and standard-quality streaming without the option of TV mirroring, but is still expected to attract millions of brand new users
Currently, Netflix has just two million users in the South Asian country, despite it having a population of more than one billion.
Last year, Netflix CEO Reed Hastings said India could provide Netflix with 100 million new users over the next few years – if they can out-smart their rivals.
The news comes after Netflix stock plunged earlier this month following a dramatic slowdown in growth.
The company picked up 2.7 million worldwide subscribers for the April-June period, far below the 5 million subscribers they’d forecast.
The second-quarter letdown comes after Netflix attracted nearly 10 million subscribers during the first three months of the year, more than any other quarter since the debut of its video streaming service 12 years ago.
‘Netflix had a good early start, but growth has been slow in the last six months given the mass Indian consumer market remains value-conscious,’ Mihir Shah, Vice President of research firm Media Partners Asia, told TechCrunch.
Scope for growth: Currently, Netflix has just two million users in the South Asian country, despite it having a population of more than one billion
‘At 200 rupees, Netflix could address a sizable target market in India. One could draw parallels from the Indian multiplex industry, which caters to 100 million consumers spending an average US$4 per movie,’ he added.
Unfortunately for customers outside of India, the new super-cheap mobile plan is not expected to be expanded into other markets, which means UK users can still expect to pay £9.99, or 867 Indian Rupees.
Likewise, American viewers will still need to fork-out $12.99 (£10.38).
