New Delhi: Popular OTT platform Netflix has given a big gift to its customers. Netflix has decided to reduce the subscription rate in 116 countries simultaneously. Netflix has taken this decision after the response to its cheap subscription plan in India. OTT platform Netflix has seen a 30% increase in engagement and a 24% increase in revenue after reducing subscription rates in India. Netflix reduced its subscription rates in India in 2021. For the first time, Netflix had made its plans 20-60% cheaper in the Indian market. A statement issued by Netflix said that following our ad-supported subscription plans, subscribers have increased more than expected. As expected, we’ve seen far fewer switches from our Standard and Premium plans. It was not disclosed which of the 116 plans. Country Netflix has reduced the subscription rates.
1.7 million new customers were added in the first quarter
Netflix, the long-running loss-making video streaming platform, seems to be benefiting this time. In the first quarter of the year 2023, the number of subscribers to Netflix increased. Netflix gained nearly 1.7 million new subscribers in the first quarter. This advantage comes after Netflix stopped password sharing. Apart from this, Netflix has also benefited from the ad-based subscription model. From January to March of 2023, Netflix earned $2.88 per share, or about $236.
Meanwhile, the total revenue of Netflix has reached $ 8.162 billion i.e. around Rs 670 crore. Netflix’s revenue in the second quarter was $ 8.242 billion, or about Rs 676 crore. According to Wall Street, Netflix’s revenue in the second quarter could be $ 8.476 billion, or about Rs 696 crore.
Netflix Subscription Plans 2023: Price in India
Currently, Netflix has four plans in the country. These plans start at Rs 149 and go up to Rs 649. Each plan offers a different number of screens on which content can be viewed simultaneously. Here’s a list of all the plans that Netflix has to offer you:
Netflix Rs 149 mobile-only plan
Netflix Basic Rs 199 plan
Netflix Standard Rs 499 plan
Netflix Premium Rs 649 plan
