Active Stocks
Tue Sep 26 2023 15:58:49
  1. Tata Steel share price
  2. 128.85 1.18%
  1. Tata Motors share price
  2. 619.75 0.19%
  1. HDFC Bank share price
  2. 1,537.65 0.39%
  1. State Bank Of India share price
  2. 594.3 0.03%
  1. ITC share price
  2. 442.4 -0.05%
Business News/ Companies / News/  Netflix tests cheaper, yearly subscription plan in India

BENGALURU: Netflix Inc is testing longer subscription plans in India as it looks to attract more users in a highly competitive market where smartphone and internet usage is soaring.

New users of Netflix in India may have the option to choose from three-, six- and 12-month plans at discounts of up to 50%, a person familiar with the matter told Reuters.

The Los Gatos, California-based company has previously used India as a testing ground for new features, launching a mobile-only monthly plan starting at 199 rupees ($2.79) this year.

Including the mobile plan, the company currently offers four plans in India, with its premium plan costing 799 rupees per month.

"We believe that our members may value the flexibility that comes from being able to pay for a few months at once. As always, this is a test and we will only introduce it more broadly if people find it useful," a spokeswoman for Netflix India said in an email, but declined to give further details.

The U.S. video streaming company is spending $15 billion on content as it battles Inc's Prime Video service, Hulu, and Disney's newly launched streaming service for subscribers.

Netflix Chief Executive Officer Reed Hastings said last week the company was spending about $420 million on content for India, where it has already launched original series such as gangster drama "Sacred Games" and police procedural "Delhi Crime".

Speaking at a media conference in New Delhi, Hastings also said the company's first animated series from India, "Mighty Little Bheem", had been watched by 27 million households worldwide, in a sign of the country's importance to Netflix's plans for global expansion.

The producer of original series such as "The Crown" and "Sex Education", Netflix has nearly 160 million paying users worldwide, but has not disclosed subscriber figures for India.

The trial 3-month plans will be offered at a 20% discount to original prices, while users will get a 30% discount for six-month plans, the source said.

The Economic Times daily reported earlier on Wednesday that Netflix was testing longer subscription plans in India.

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Updated: 11 Dec 2019, 04:41 PM IST
Next Story
Recommended For You
Switch to the Mint app for fast and personalized news - Get App