What does Netflix low cost about competition in India?
Netflix wanted to overthrow India's Internet ecosystem. The reality of the market in the country left it with less option but most other silicon valley companies have adapted it.
What does Netflix low cost about competition in India?
Netflix wanted to overthrow India's Internet ecosystem. The reality of the market in the country left it with less option but most other silicon valley companies have adapted it.
At a conference in New Delhi in the beginning of last year, Netflix CEO Reid Hastings was faced with a question that his company has been asked many times over the years. Will he consider reducing membership costs in India?
This is a device that most Silicon Valley companies have adapted in the country over the years. Uber ride is not as expensive in India as they are elsewhere. The price of Spotify and Apple Music is less than $ 2 per month for users in the country. Along with YouTube premium, subscriptions for US news outlets such as WSJ and New York Times are also significantly lower compared to the prices charged on their home grounds.
Hastings also came prepared: He acknowledged that the entertainment industry in India is very different from other parts of the world. To ensure that most pay-TV ads in India are supported by and the access fee is very low ($ 5) But it was not going to change how Netflix likes to roll, he said.
"We want to be sensitive to great stories and invest in local materials to fund these great stories," he said. They said, "Yes, our strategy is to build local materials - and of course we have got global content - and try to uproot the industry," he said, to identify the moviegoers, which is about 500 rupees ($ 7.25) or more. Every month NetFlix tickets as potential customers.
After less than a year and a half, Netflix has changed its heart. The company has launched low cost subscription scheme in India today, which is the first time for the company. The monthly plan, which prohibits the use of the service only for mobile devices, is worth 199 rupees ($ 2.8) - one-third of the least expensive plan in America
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At a press conference in New Delhi, Netflix officials said that the purpose of low cost subscription tier is to expand the reach of its service in the country. Ajay Arora, Director of Product Innovation, Netflix said, "We want to make the audience really wider for Netflix, and want to make it more accessible, and we knew how a mobile-centric India is."
This step has come at a time when Netflix has increased its membership rates in the United States by 18% and in the UK by 20%.
Netflix strategy change in India is a big challenge, which has been facing the silicon Valley companies for years in the country. If you want to succeed in the country, either earn most of your revenue from advertisements, or give a huge subsidy on your costs.
But is it successful to find users in India, this is also the subject of debate.