The new subscription plan would help Netflix reach newer users in India and expand its overall subscriber base
Photo: AFP
USA-based media service provider Netflix is planning to roll out a more affordable streaming package in India as it looks to expand its subscriber base.
Netflix has added 2.7 million new subscribers in the quarter that ended in June 2019 and the American company is all set to roll out a mobile-only plan, starting in India at an affordable price in a bid to set a stronger foothold in India and reach out to newer users in the country
ADVERTISEMENT
In a letter to investors released this afternoon, Netflix stated that the plan "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 (average revenue per user) is low (below $5)."
The streaming giant announced the new plan alongside its financial results that revealed a huge decline in subscribers during the quarter.
Video streaming platform Hotstar leads the over-the-top entertainment app segment with 49 per cent share in terms of smartphone installations, while Jio's Live Tv leads the live channel category with 30 per cent share, a study says
According to the techARC-Unomer MegaInsight study, around 79 per cent of smartphone users access over-the-top (OTT) mobile applications for entertainment in India, which is in addition to the ‘casual’ entertainment of YouTube and other UGC (User Generated Content) platforms like TikTok.
Amazon Prime Video had 15 per cent share, while that of Netflix was 13 per cent.
(With inputs from ANI, PTI and AFP)
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
