According to 36Kr news, Netflix announced on Tuesday that in order to compete with Amazon and Disney for market share in India, Netflix on Tuesday announced a sharp reduction in its local membership subscription fees. Netflix said it lowered prices for all four packages in India, with the biggest price cut being the entry-level package, from 499 rupees ($6.57) per month to 199 rupees ($2.60) per month, a 60 percent drop. Monika Shergill, Netflix India's vice president of content, said the new membership price would make streaming services more accessible to Indian viewers.
Although Netflix has a significant subscriber lead in many markets in Asia, especially in South Korea, its localization strategy has been a huge success.
However, Netflix lags far behind rivals Disney+ Hotstar and Amazon Prime Video in India. According to MPA's forecast, Netflix will have 5 million subscribers in India by the end of December, compared with 46 million subscribers to Disney+ Hotstar and 19 million to Amazon Prime Video.
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