If there’s any company which is currently ruling movie streaming industry, then it’s Netflix. Netflix has managed to reach billions of people successfully, and now this company is generating billions of dollars in revenues. However, a few months ago Netflix shocked everyone when it raised its subscription prices by approximately 18%. The standard plan which used to cost $10.99 now cost $12.99, on the other hand, price of a basic plan has been raised from $7.99 to $8.99. Now even after so much hike in prices, subscribers of Netflix are okay to that much amount of costs. Perhaps saying all customers are happy would be wrong and very few people who still can afford are really happy about Netflix’s hiked prices.
Netflix is putting billions of dollars in creating its own movies and TV shows, so it’s tough for company to operate its business at such low prices. Netflix has already announced that it’s going to release more than 44 new shows and movies in 2019. However, Netflix is planning to bring a new subscription plan for Indian users. Netflix started its service in India last year also since its arrival. It has gained immense popularity with its local TV shows.
But tech giant company realizes that majority of Indians still can’t afford its plan and that’s why now Netflix is planning to bring a basic plan for Indians at $3.62, i.e. Rs250. India is growing at a faster rate and 4G internet connected made available by the local domestic company has given access to mobile internet to billions of people. Now Netflix is trying to go cheap in India to attract more users since its competitor Amazon Prime is already offering its service at the same prices. Competition in movie streaming business is growing at a faster rate because Disney and Apple are also launching their own movie streaming platform. It won’t be that easy for Netflix to sustain its position and that’s why company is shifting its focus towards Indian market.