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Netflix said on Wednesday that it will roll out a cheaper subscription plan in India, one of the last great growth markets for global companies, as the streaming giant scrambles to find ways to accelerate its slowing growth worldwide.
The company added 2.7 million new subscribers in the quarter that ended in June this year, it said today, far fewer than the 5 million figure it had forecasted earlier this year.
Company - Subscription - Plan - US - Users
The company said lowering its subscription plan, which starts at $9 in the U.S., would help it reach more users in India and expand its overall subscriber base.
Netflix started to test a lower-priced subscription plan in India and some other markets in Asia late last year. The plan restricts the usage of the service to only one mobile device and offers only the standard definition viewing (~480p). During the period of testing, which was active as of two months ago, the company charged users as low as $4.
Company - Amount - Plan - Period - Netflix
The company did not specify the exact amount it intends to charge for the mobile only, cheaper plan. During the testing period, Netflix also provided users the option to get a subscription that would only last for a week. The company also did not say if it intends to bring the cheaper plan to other markets. TechCrunch has reached out to Netflix for more details.
“After several months of testing, we’ve decided to roll out a lower-priced mobile-screen plan in India to complement our existing plans. We believe this plan, which will launch in Q3, 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 (below $5),” it said in its quarterly earnings report.
Entertainment - Service - India - Per - Capita
Selling an entertainment service in India, the per capita GDP of...
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