Netflix Inc. believes that India is a customer base with untapped potential.
The streaming service giants will be experimenting with pricing models, lower than their current lowest tier of subscription.
We will experiment with other pricing models not only for India, but around the world that allow us to sort of broaden access by providing a pricing tier that sits below our current lowest tier -GREGORY PETERS(CHIEF PRODUCT OFFICER)
In order to lure in more customers from India, Netflix will be using the following tactics:-
- lower pricing models for Indian customers.
- addition of shows for Indian fan base in languages other than English and Hindi.
Revenue from video services such as YouTube, Netflix and others reached Rs 2,020 crore in 2017, according to reports. By 2022, that’s expected to more than double, making India one of the top 10 markets for the services, with subscription video making up almost 80% of the market.
This has come as a welcome news, by the subscribers and future subscribers alike, especially ahead of the vacation season.