After missing Q2 subscriber targets, the streaming platform hopes this lower-priced option will help it compete with its competitors in India such as Amazon, which charges $1.87 (129 rupees) per month or $14.48 (999 rupees) per year for its full Prime service.
Netflix has launched a new mobile-only subscription option in India, priced at $2.88 (199 rupees) per month, less than half the cost of its Basic plan, which is $7.23 (499 rupees) per month.
After missing Q2 subscriber targets, the streaming platform hopes this lower-priced option will help it compete with its aggressively priced competitors in India such as Amazon, which charges $1.87 (129 rupees) per month or $14.48 (999 rupees) per year for its full Prime service.
Last week the companys Q2 earnings results revealed it has only increased by 2.7m paid customers globally, nearly half of the subscribers it was forecast to have increased by at this point.
Netflixs new mobile-only plan will work on one smartphone or a tablet at a time in India, and the company is hoping this will spur growth in an important market.
Commenting on the new plan, Ajay Arora, Director of Product Innovation at Netflix said in a press statement: Our members in India watch more on their mobiles than members anywhere else in the world- and they love to download our shows and films. We believe this new plan will make Netflix even more accessible and better suit people who like to watch on their smartphones and tabletsboth on the go and at home.
