If you were among those who thought Netflix will introduce cheaper plans for India, you are going to get nothing but bad news. Netflix CEO Reed Hastings clarified in an interview with Reuters that the video streaming company has no plans to introduce cheaper plans for Indian consumers. Hasting also suggested that comments from Netflix’s product chief Gregory Peters had been misunderstood.
Hasting’s clarification may come as a surprise for many since Bloomberg reported last month citing comments from Netflix’s chief product officer Gregory Peters that Netflix will explore cheaper plans to attract hundreds of millions of potential Indian customers. However, Netflix CEO has now put an end to those reports.
In India, Netflix currently has three plans to offer: Rs 500, Rs 650 and Rs 800. All these plans come along with different benefits. For example, Rs 500 plan is all about letting users download or stream videos on a single device. Meanwhile, Rs 650 plan is restricted to two screens for simultaneous video streaming or offline-downloading. Netflix’s top-tier plan costs Rs 800 that allows four users to simultaneously download or stream videos.
Netflix is currently facing the competition in India from services like Amazon Prime and Hotstar. Unlike Hotstar and Amazon Prime, Netflix does not provide an annual plan for its users. Hotstar charges 999 rupees for 12 months that covers access all its content including sports. Hotstar also offers a monthly plan for Rs 199. Amazon Prime membership, on the other hand, starts at Rs 129 per month.
Similar to Hotstar, Amazon also provides an annual subscription for Rs 999. However, Amazon Prime membership includes several other benefits such as access to Prime Video, Prime Music, in addition to logistical benefits like 1-day guaranteed delivery at free of cost upon shopping on Amazon.