Netflix is reportedly planning to introduce lower prices in some markets. The company’s service, which comes at $7.99 per month (with other premium prices available), is not really affordable to the mass in some markets like India, where Netflix is slowly becoming immensely popular.
In an interview with Bloomberg, Netflix CEO Reed Hastings shared the company’s plans. The details of the lower prices are unclear, though it seems like Netflix will offer lower-priced tiers along with the plans that are already available in some of these markets. The lower-priced tiers will probably come with fewer features, like a smaller catalog of content, mainly focusing on Netflix Originals, for example.
The lower-priced tier could really help Netflix expand its reach in developing countries like India. Hastings says there are around 100 million potential customers for Netflix in India, and with the company investing heavily on original content for the country, it’s seemingly become a top priority for the firm. Most of Netflix’s potential customers probably can’t afford to pay $7.99 a month for the service, so a new, cheaper subscription plan could help change that.