In a bid to capture a bigger share of the large, fiercely competitive and price-sensitive Indian streaming market, Netflix has sharply reduced its subscription price plans in the territory.
The cheapest monthly mobile plan, which covers phone and tablet, has been cut from INR199 ($2.63) to INR149 ($1.97).
The basic full service plan, which provides 480p picture quality, sees the largest price drop, by 60%, from INR499 ($6.60) per month to just INR199 ($2.63). The standard plan, which serves up 1080p picture quality and a full service, has been cut from INR649 ($8.58) per month to INR499 ($6.60).
The most expensive full service premium plan, which provides 4K + HDR picture quality, is now reduced from INR799 ($10.57) to INR649 ($8.58).
Netflix’s date for price reduction, Dec. 14, appears to be deliberate, as that is the same day that rival Amazon Prime Video India is upping its rates. Prime Video’s annual subscription plan jumps 50% from INR999 ($13.21) to INR1,499 ($18.83).
Amazon Prime Video’s monthly plan is rising from INR129 ($1.70) to INR179 ($2.36), while the quarterly plan is increasing from INR329 ($4.35) to INR459 ($6.07).
Indian streaming market leader Disney Plus Hotstar raised rates in September. The cheapest INR499 ($6.60) annual plan is for mobiles only. Its INR899 ($11.89) annual plan covers any two devices, while the INR1,499 annual plan ($18.83) is up to 4K quality and across four devices. Disney Plus Hotstar also has an advertising-supported free tier.
While none of the streamers disclose their paying subscriber numbers in India, a report on the market by research firm Media Partners Asia reveals that the top three streamers in the country Disney Plus Hotstar (51 million), Amazon Prime Video (22.3 million) and Netflix (6.1 million) together account for 80 million subscriptions, though some may be duplicated.