In the current market, Netflix is world’s one of the topmost entertainment platforms for watching a wide range of movies and series. It provides its services in over 190 countries with more than 209 million subscribers. Netflix offers documentaries, feature films, TV series and various other entertainment with a wide range of languages and genres. It is an American production company headquartered in California. Netflix has a huge base audience in the global market and they can enjoy it on their smartphone, Smart TV, tablet, and laptop or on any other streaming device. However, it depends on how much a person is subscribing for signing up with the application. Based on the subscription fee, individuals would get various types of features and facilities from Netflix.
How Netflix started its journey in the Indian market
It has been five years that Netflix started its journey in the Indian market. Initially, when the company started to expand its business in the international market, the services were limited and the leader of the company was cautious enough to put an achievable target in the first place to play safe and strategically. Founder and CEO of the company, Mr Hastings stated at that time that currently Netflix is utilized in more than 70 Mn households in the world. And their target was reaching approximately 90 million homes only in the United States, which has successfully achieved by Netflix. The initial Netflix subscription price in India was limited with fewer options compared to current subscription plan options.
Initially, Netflix only provided three options for subscription plans for its audiences in India, which started with Rs. 500, the basic plan up to Rs. 800 the premium plan, along with Rs. 650 the standard plan. Based on these Netflix subscription plans, Indian audiences got options for streaming the videos. But gradually, other platforms like Netflix started to grow in the Indian market with better and cheaper offers compared to Netflix along with the same range of features and facilities. For instance, HotStar; Amazon Prime and various others. The most important thing which these platforms focused on is the wide range of Indian content which would attract more audiences. On the other hand, initially, Netflix only provided quite limited content and options for the audiences in the Indian market. Therefore, competition for Netflix started to increase and the company decided to make some strategic changes in pricing and other options for the Indian consumers.
Current services and offers provided by Netflix in India
From 2016 to now 2021, a wide range of development in various industries have taken place which is also associated with the development of Netflix in India. First, the use of smartphones and the internet has increased drastically over the past few years. It has a huge impact on Netflix in the context of changing its subscription plans in the Indian market. Netflix subscription price in India has been changed widely by the company considering the basic demand and requirements of the Indian audiences.
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As represented in the above image, these are the Netflix subscription price in India currently. Netflix is now providing four options for every individual and people now can even access the contents of Netflix with a minimum amount of Rs. 199. However, as it can be seen that Netflix has limited its key features and facilities based on their subscription plans. Video quality, resolution, devices to watch, the number of persons to share with, all these options for Netflix are limited based on the plans. With a Basic subscription plan, only one individual will be able to use the access the account but with all the key features except high-quality video. Similarly, with a basic plan, two individuals will be able to share one account and with a premium plan, four individuals will be able to share one same account along with all the key features of the application.
Along with all these plans, one of the best plans provided by Netflix is the plan for Rs. 199. The price is quite affordable compared to other plans and with this, an individual will be able to easily access the wide range of contents of Netflix. However, it also has its few limitations and one of them is that with this Netflix plan, a person only will be able to stream Netflix on the smartphone. They won’t be able to see interesting movies and series on a bigger screen. Along with that, the payment process is also a bit difficult for individuals who do not have credit cards or debit cards like VISA, who won’t be able to pay for their subscription. Individuals in India who has a RuPay debit card but not VISA, also won’t be able to pay the required subscription amount. So, there are some limitations that are faced by the subscribers of the mobile plan of Netflix.
On the other hand, e-banking and UPI (Unified Payment Interface) have made it easier for individuals who face difficulties because of limited payment options through credit and debit cards. With the online payment options and the companies like Paytm, Google Pay, PhonePe, and BHIM app, it has been easier for the users to pay their monthly subscription payment. Along with all these characteristics of Netflix subscription plan in India, a key factor which can be noticed that all the subscription plan offered by Netflix is for monthly basis. If an individual wants to open a new account on Netflix and go for the subscription plan options, would be able to notice that there is no visible option provided by Netflix for an annual subscription. However, the newly updated Netflix subscription price in India on a monthly basis is quite attractive and affordable for Indian audiences. As a result, now a wide range of audiences in the Indian market now frequently signing up for Netflix and using the application as their daily entertainment.
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