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Netflix is currently the most expensive streaming service in India, starting at Rs 500 per month.
BusinessToday.In New Delhi Last updated: October 19, 2018 | IST The Netflix video streaming site plans to experiment with pricing models to strengthen its presence in India. They can even deploy a cheaper subscription plan to attract more customers. "We are just getting started in India, we are going to experiment with other pricing models and see how that will allow us to accelerate our growth and get better access." But even with the model Existing, we have the feeling that we have a long track ahead of us in India, "said Greg Peters, director of products, mentioned in an article in The Economic Times.
With projects starting at 500 rupees a month, Netflix is currently the most expensive streaming service in India. Its competitors deploy subscriptions for half the price. Lower prices are likely to boost Netflix's subscriber base.
The Indian video market, which is still in its infancy, is currently dominated by Star India's Hotstar and Amazon Prime Video.
According to consulting firm PwC, the video streaming market in India is growing at a compound annual growth rate (CAGR) of 22.6%. It is likely that it will become one of the ten largest markets for video streaming by 2022 with incomes of 5,595 crores of rupees, as reported in the daily.
Netflix co-founder and CEO Reed Hastings said in an interview that he would take one million phone users at a time and find out how to develop the market as it grows. Chief Financial Officer David Wells said that they were very much encouraged with India and its growth, but also acknowledged that the market was difficult.
Netflix also plans to spend more than $ 8 billion on original programming in India this year. With this in mind, the company has already published two original series, Sacred Games and Ghoul, and has commissioned nine more.
The CCO Ted Sarandos, whose content such as Sacred Games, Ghoul and the original movie Love Per Square Foot helped raise awareness of a service. He added that they wanted the product to feel more local and relevant in India.
Hastings added that he also plans to extend Netflix's programming to other Indian languages and to explore the possibility of consolidating partnerships in India.
Netflix also plans to double its workforce in the India Division, from 30 to 60 in the coming months. They plan to hire departments.
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