OTT giant Netflix to cut down subscription by 50%, New pricing details
OTT giant Netflix has decided to cut down its subscription pricing significantly in more than 100 countries including India. India has a substantial number of subscribers on the OTT portal and this decision to cut down the prices is expected to bring a hike in these numbers.
Netflix’s global net income for the three months that ended in March 2023 fell to $1,305 million (about Rs. 107 crores), a decline of almost 18% from the same period the previous year.
The cheapest Netflix plan of Rs 199 per month mobile-only will now be available at Rs 149. In addition to this, the basic subscription is now priced at Rs 199 instead of Rs 499. The prices of Netflix are on the higher side if we compare them to the other OTT platforms. In fact, Netflix, monthly subscription prices are higher than the annual subscription of some other OTT portals.
This move will make Netflix quite affordable and the global giant will surely increase their subscription base! The prices have been cut in overall 116 countries in parts of Asia, Europe, Latin America, sub-Saharan Africa, and the Middle East.
