Netflix to Bring Low Priced Plans in Asia to Increase Customer Base

Netflix, the video streaming platform, has managed to garner more than 130 million subscribers globally already. Stating the roadmap of the company, Netflix CEO now says that he believe India can deliver the next 100 million subscribers to the company. It has been a long time rumour that Netflix is testing to introduce cheaper plans to select markets, including India. But, the company CEO chief executive officer, Reed Hastings has now denied all the media reports and said that the Netflix plans for India are only “modestly lower than what the company charges in the United States” and even though the plan prices are higher than the domestic streaming services, Netflix will strive in the competition.

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The chief product officer of Netflix, Greg Peters at Netflix’s October earnings announcement had said, “We’ll experiment with other pricing models, not only for India but around the world that will allow us to broaden access by providing a pricing tier that sits below our current lowest tier.” Soon after this comment was made, people believed India could get some low-cost Netflix plans soon. But Hastings has now denied the reports and said that they are not working on low-cost Netflix plans for India.

Netflix Could Be Testing Low-Cost Plans for Asia

Even though Hastings said Netflix isn’t testing low-cost plans for India, in addition, he also informed that the company would test a lower-priced version of its film and television streaming service in some markets in order to boost sales. Although the company hasn’t committed to lowering prices anywhere, it does mention that it wants to experiment the pricing models. Hastings, however, didn’t say when or where the plans testing would be conducted.

Netflix vs Other Video Streaming Services

A low price plan would raise the customer base for Netflix. Local industry players like Hotstar, Amazon Prime Video, and others, believe that the Netflix plans for the Indian market are pretty high compared to their plans. The domestic competitors, however, believe that if Netflix continues with their existing plans, it could make it difficult for the streaming service platform to survive in the competition.