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July 18, 2019 02:41 pm

Netflix Will Roll Out a Lower-Priced Subscription Plan in India

Netflix said on Wednesday that it will roll out a cheaper subscription plan in India, one of the last great growth markets for global companies, as the streaming giant scrambles to find ways to accelerate its slowing growth worldwide. From a report: The company added 2.7 million new subscribers in the quarter that ended in June this year, it said today, far fewer than the 5 million figure it had forecasted earlier this year. The company said lowering its subscription plan, which starts at $9 in the U.S., would help it reach more users in India and expand its overall subscriber base. The new plan will be available in India in Q3. According to third-party research firms, Netflix has fewer than 2 million subscribers in India. Netflix started to test a lower-priced subscription plan in India and some other markets in Asia late last year. The plan restricts the usage of the service to one mobile device and offers only the standard definition viewing (~480p). During the period of testing, which was active as of two months ago, the company charged users as low as $4. [...] For Netflix, the decision to lower its pricing in India comes at a time when it has hiked the subscription cost in many parts of the world in recent quarters. In the U.S., for instance, Netflix said earlier this year that it would raise its subscription price by up to 18%.

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