Netflix currently offers three monthly plans in India, priced between Rs 500 and Rs 800.
Netflix
Inc said on Wednesday it would roll out a lower-priced mobile-only
plan in India, tapping into a price-sensitive market where data
consumption on smartphones is surging.
The
video streaming pioneer said in March that it was testing a Rs 250
($3.63) monthly subscription for mobile devices in India, where data
plans are among the cheapest in the world.
"We
believe this plan ... will be an effective way to introduce a larger
number of people in India to Netflix and to further expand our
business in a market where Pay TV ARPU is low," the company
said.
Netflix's
new plan is aimed at battling cheaper offerings from rivals such as
Amazon.com Inc's Prime Video and Hotstar, a video streaming platform
owned by Walt Disney Co's India unit.
Netflix
currently offers three monthly plans in India, priced between Rs 500
and Rs 800.
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In
contrast, Hotstar, which also offers content from AT&T Inc's HBO
and streams live sports, charges Rs 299 per month. Amazon bundles its
video and music streaming services with its Prime membership.
Netflix's
announcement was part of its quarterly results, in which it reported
lower-than-expected subscriber additions.
India
figures prominently in Netflix Chief Executive Officer Reed Hastings'
global expansion plans. The company is investing heavily in creating
blockbuster shows such as crime thriller "Sacred
Games" and "Delhi Crime" with A-list Bollywood
actors.
The
second season of "Sacred Games" is set to release in
August.
"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.
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