Netflix set to launch a cheaper mobile-only plan in India

The Netflix logo is seen on their office in Hollywood, Los Angeles, California.Netflix Inc said on Wednesday it would roll out a lower-priced mobile-only plan in India within the next three months to tap into a price-sensitive market at a time the streaming company is losing customers in its home turf.

India is among the last big growth markets for the company, where it faces competition from Amazon.com Inc’s Prime Video and Hotstar, a video streaming platform owned by Walt Disney Co’s India unit. Netflix lost U.S. streaming customers for the first time in eight years on Wednesday, when it posted quarterly results. It also missed targets for new subscribers overseas.“India is a mobile-first nation, where many first-time users are experiencing the internet on their phones. In such a scenario, a mobile-only package makes sense to target new users,” said Tarun Pathak, analyst at Counterpoint Research.

The creator of “Stranger Things” and “Crown” said in March that it was testing a 250-rupee monthly subscription for mobile devices in India, where data plans are among the cheapest in the world.“We believe this plan, which will launch in the third quarter, will be an effective way to introduce a larger number of people in India to Netflix and to further expand our business,” the company said in a letter to investors released late on Wednesday.

“We’ve been seeing nice steady increases in engagement with our Indian viewers that we think we can keep building on. Growth in that country is a marathon, so we’re in it for the long haul,” Netflix Chief Content Officer Ted Sarandos said.

Source: News Formal (newsformal.com)

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