Netflix is reported to be looking at introducing cheaper plans to boost users in the Indian market. The reason for this consideration is because Netflix believes that the Indian market has “hundreds of millions of potential video customers”. The lower-priced plan is an attempt to tap in the potential of the Indian market. Though, the company noted that it is trying to look at other markets in addition to India to tap into the additional subscribers with modifications in its pricing model.
According to LiveMint, Gregory Peters, the Chief Product Officer for Netflix stated, “We will experiment with other pricing models not only for India but around the world that allow us to sort of broaden access by providing a pricing tier that sits below our current lowest tier.” Peters stated this during a conference call with analysts on October 16 after the video-streaming giant reported its third-quarter earnings. The company is also looking at adding additional regional Indian languages other than English and Hindi as subtitles to reach out to a wider range of viewers.
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After talking about increasing the languages that are available as subtitles in the Indian market, Reed Hastings, the Chief Executive Officer for Netflix stated, “We will take it 1 million at a time and figure out how to expand the market as we grow.” Though, the report noted that Hastings did not reveal details about the growth of video streaming service in the Indian market.
It looks like Netflix is looking to benefit from the increasing number of internet users in the Indian market. Increased and improved connectivity has resulted in more internet users, and more potential Netflix subscribers in the Indian market.