In its quarterly earnings report, Netflix announced that it will be launching a lower-priced mobile-screen plan for customers in India. The firm hopes that the low-cost option will help it gain a larger number of new customers, pulling users away from the low-cost pay-TV services that already exist in the country.
The streaming company stated in its report that it hopes to roll out the new tariff in the third quarter of this year, meaning it could show up at any time between now and October. The firm did not state in the report how much the new tariff would cost, but Reuters reports that the firm was trialing the new tariff in March for ₹250 ($3.63) per month; a similar price is to be expected when the company makes it a standard tariff.
The new tariff was announced at the same time as the firm’s quarterly earnings report in which the company admitted that its membership grew by just 2.7 million users; that’s less than the 5.5 million users it grew by a year ago, and the 5 million customers it was hoping to grow by this quarter.
Next quarter the firm hopes to grow by 7 million paid memberships, up from 6.1 million a year ago. The company will be pinning its hopes on the new tariff launching in India to help it achieve its targets.
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