Dikhyaa Mohanty 
Netflix announced that it is slashing its monthly subscription rates by up to 60 per cent in India, as it looks to woo viewers amid growing competition in the OTT space. Under the new rates that roll out from Tuesday, Netflix’s Mobile will now be available at Rs 149 a month (from Rs 199 earlier), while the Basic plan will be priced at Rs 199 a month, instead of Rs 499. The Standard plan will be charged at Rs 499 per month, while Premium will be available at Rs 649 a month.
Earlier these plans were charged at Rs 649 and Rs 799, respectively. Netflix Vice President – Content (India) Monika Shergill stated that they are dropping their prices and it’s across the board, across our plans, this will include all our service – local and global. The biggest drop of 60 per cent is in the Basic plan, because they want the audiences to watch Netflix on a bigger screen or on any device, so that has gone down from Rs 499 to Rs 199. The price drop is matched with a power-packed slate that the company is launching. Netflix has been a premium offering since its launch in India in 2016, with subscription plans starting from about Rs 500.
She further added that they have had great momentum since the time they came here (India), particularly over the last two years. When they came in, they were more of a service that brought global content. But in the last two-three years that has been changing dramatically and they are expanding our slate. The pricing will appeal to everyone across the board, including new users joining the platform. While Netflix plays in the premium content streaming space, it competes with the likes of Amazon Prime Video, Hotstar and even YouTube, along with other local players in the Indian market.
