The Silicon Review ^Asia

Netflix, the American video-streaming service provider intends to roll out lower cost subscription plans in India. The company is looking to grow its user base in India and other markets.

According to Greg Peters, Chief Production Officer of Netflix, the company is just getting started in India. The company will change its pricing models and see how it will help them to accelerate their growth and gain more access. Even with the current pricing model, the company believes that it has a great platform ahead of them in India.

With monthly subscription plans starting at Rs. 500, presently, Netflix is the most costly video-streaming services in India. In the country’s nascent video streaming market, Netflix has the perfect opportunity to go beyond the premium subscriber market and capture market share if they introduce low pricing subscription plans.

India’s video streaming market is growing rapidly, i.e. CAGR of 22.6% and by 2022, and will likely enter into the world’s top 10 video streaming markets with a revenue of Rs 5,595 crores.

According to Reed Hasting, CEO of Netflix, in India,the Netflix subscription in mobile is almost twice that in mobile phone subscriptions, i.e. more than 300 million users. The company will target one million at a time and find out ways to expand the market as the company grow.

It will be interesting to see if Netflix can win hearts of more entertainment lovers in India with its new subscription plans.