Netflix has slashed prices in India by as much as 60% as it seeks to claw back market share from Amazon.com and Walt Disney, the two dominant streaming services in the country, which have expanded aggressively with cheap digital packages.
The entertainment giant has struggled to gain traction with highly price-conscious Indian consumers, who represent the biggest overseas prize for streaming platforms. Netflix has won an estimated 5-million customers in the country, compared with the 46-million who subscribe to the Disney+ Hotstar platform and 19-million to Amazon Prime Video, according to researcher Media Partners Asia, which estimates India will have 1-billion video screens by 2024 with 85% broadband usage.
“The most meaningful reduction is the basic price plan, which opens up the funnel for significant new customer growth,” said Mihir Shah, vice-president and head of India at Media Partners Asia. “It will also mean that they will have to go deeper, local and more regional in their content.”
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But raises prices in SA.