Netflix has slashed its monthly subscription fees in India by as much as 50 percent with its basic plan now costing Rs. 199 a month instead of Rs. 499 earlier, according to a press release by Netflix. The standard plan, in which one can share two screens, will be available at Rs. 499 a month as opposed to Rs. 649, the company added. The premium plan has also seen a 19 percent drop to Rs. 649 from Rs. 799; it is the most expensive plan in which a subscriber can watch Netflix on up to four screens. The mobile-only plan saw a cut of Rs. 50 and will now cost Rs. 149. The company revealed that the new plans will come into effect from December 14, 2021. In an interview with Economic Times, Monika Shergill, Vice President, Content, Netflix India, explained that the price cut ties in with the content strategy and the timing of new content coming out. This is the first time Netflix has slashed its rates in India since launching in 2016 as the competition among OTT platforms heats up. It is a significant step that is likely to attract viewers and cause fretting among its rivals. ‘Amazon Prime Video will now cost Rs 1,499 a year’ In an interesting turn of events, Netflix’s price cut comes closely on the heels of Amazon increasing the rate of Prime membership in India by up to 50 percent. A bundle of Prime membership gets you everything from Amazon Music, Prime…
