With the rise of streaming services such as Amazon Prime and Hotstar in India and the upcoming looming threat of Disney+, Netflix had better up their game to hold on to their subscribers. And up their game they have. Netflix announced a drop in their monthly plan prices to just Rs. 250, if you are streaming on your mobile phone.
Following the large drop in mobile data prices in India in 2016, both Amazon and Netflix found India to be an opportune market to appeal to the rapidly rising online population. Amazon however, did a slightly better job with Amazon Prime video, when they took the initiative to make originals in the local language, to broaden their audiences. Netflix followed slowly behind, but have always been slightly lagging in the country. Considering the high Netflix prices up until now, they simply could not compete with Amazon’s cheaper and more regional library, and with Hotstar’s command over the sports industry.
However, with their recent drop in prices, the move could really bolster their growth in India. Following Netflix’s decent performance at the awards ceremony’s with films like Roma, many people will begin to take Netflix more seriously. Also, the success of Indian Netflix originals like Sacred Games has only increased the streaming service’s popularity.
It’s interesting to think that we’re on the brink of huge change. There will be a time in the near future when rival companies like Netflix, Amazon Prime and even Disney+ will be fiercely competing for a larger audience. Think of all the new originals that they’ll each release to get our attention. Think of all the further price drops we might see. It’s also good for the creators, as they are now given more opportunities than ever before.
We live in an age where watching new movies no longer involves going to a movie theatre, but rather paying a smaller amount and experiencing the same magic from the comfort of your living room, or even your mobile phones. So, there’s no doubt that video streaming really is a larger market than ever.