Online streaming service Netflix could be lowering prices for millions of customers with a cheaper plan, starting in India. The current cheapest plan is Rs950 a month.
The online network — which has more than 130 million customers worldwide — has hinted that it plans to expand its services with more competitive deals.
The initiative is part of its aim to draw in 10 million more customers by the end of the year, however, with tough competition from rivals like Amazon Prime it said it may have to lower prices to meet its target.
As a result, Netflix said it is going to try out cheaper options “around the world”, starting in India.
This means we could soon see a package that costs even less than the lowest basic membership, which is currently Rs950 a month.
The big reveal came during this week’s earnings, when the company said it would add nearly 10 million new subscribers by the end of the year.
“We’ll 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,” explained Gregory Peters, Netflix’s chief product officer.
“And we’ll see how that does in terms of being able to accelerate our growth and get more access,” he added.
A low-price tier could potentially limit the amount of shows you watch, or restrict you to mobile devices – but Netflix hasn’t confirmed any specifics just yet.
It currently has three different price plans in Pakistan – basic, standard and premium with the main difference being the number of screens you can watch at the same time. With the basic package, users can only watch one screen at a time, while in standard they can watch two and premium four.