This is not for the first time that Netflix has lowered its subscription prices. In 2019, it gave discounted subscription to its viewers by as much as half of the actual price pf subscription. The special offer was for the customers who took subscription for straight 3 months. OTT platform Netflix has been offering regular discounts since it was launched in 2016.
Why Netflix reduced its prices?
One major could be that it is their marketing strategy. By doing so, they will be able to appeal more subscribers. Less subscribers in comparison to other OTT platform As reported by researcher Media Partners Asia, India will have at least 1 billion video screens by 2024. Along with this, India will have 85% of broadband usage.
New rates of Netflix subscription
For the Mobile users of Netflix: Netflix’s Basic monthly plan reduced by 60% Netflix’s Standard plan reduced by 23%
What Netflix Vice President for content Monika Shergill has to say.
Netflix Vice President for content Monika Shergill said that they are now dropping prices and its across the board, across their plans. This will include local and global services. They want their audience to watch Netflix on bigger screen and any device, so they dropped the price by 60% on their basic plan. Shergill says that Netflix’s whole focus is to reach to the larger set of audience and it’s an organic expansion strategy.
