With China closed to Hollywood streaming services, India, with the world’s No. 2 population, has become fertile ground for Western expansion of subscription streaming video.
Netflix, which bowed operations in India in 2016, and opened an office in Mumbai in 2017, is reportedly slashing monthly subscription pricing by 60% across all tiers.
The streamer’s mobile-only plan is dropping to $1.96 per month from $2.62. The standard plan is two dollars cheaper at $6.58, and the premium plan is now $8.55 from $10.59.
Netflix disclosed the new pricing in a blog post by Monika Shergill, VP of content for Netflix India.
It's happening! Everybody stay calm! 😱
— Netflix India (@NetflixIndia) December 14, 2021
The price cuts come as India plays an outsized role in subscriber growth for Disney+, with the country’s Hotstar streaming service accounting for almost 38% of the former’s 118 million subs. Disney acquired Hotstar through its $71 billion acquisition of 21st Century Fox in 2019.
In addition to Disney+, Netflix, and Amazon Prime Video, Indian streaming services include Voot, ALTBalajim, SonyLiv, Zee5 and Eros Now.