Netflix said on Wednesday it would roll out a lower-priced mobile-only plan in India within the next three months to tap into a price-sensitive market at a time the streaming company is losing customers in its home turf.
India is among the last big growth markets for the company, where it faces competition from Amazon.com Inc’s Prime Video and Hotstar, a video streaming platform owned by Walt Disney Co’s India unit.
Netflix lost US streaming customers for the first time in eight years on Wednesday, when it posted quarterly results. It also missed targets for new subscribers overseas.
“India is a mobile-first nation, where many first-time users are experiencing the Internet on their phones. In such a scenario, a mobile-only package makes sense to target new users,” said Tarun Pathak, analyst at Counterpoint Research.
The creator of “Stranger Things” and “The Crown” said in March that it was testing a 250-rupee ($3.63) monthly subscription for mobile devices in India, where data plans are among the cheapest in the world.
The country figures prominently in Chief Executive Officer Reed Hastings’ global expansion plans.
“We believe this plan, which will launch in the third quarter, will be an effective way to introduce a larger number of people in India to Netflix and to further expand our business,” the company said in a letter to investors released late on Wednesday.
Netflix currently offers three monthly plans in India, priced between 500 rupees ($7.27) and 800 rupees $11.63).
It has created a niche following in the country by launching local original shows like the thriller “Sacred Games” and dystopian tale “Leila,” which feature popular Bollywood actors.
The second season of “Sacred Games” is set to release in August.
In contrast, Hotstar, which also offers content from AT&T Inc’s HBO and also streams live sports, charges 299 rupees ($4.35) per month. Amazon bundles its video and music streaming services with its Prime membership.
“We’ve been seeing nice steady increases in engagement with our Indian viewers that we think we can keep building on. Growth in that country is a marathon, so we’re in it for the long haul,” Netflix Chief Content Officer Ted Sarandos said.
Netflix to roll out cheaper mobile-only plan for India
Netflix to roll out cheaper mobile-only plan for India
- India is among the last big growth markets for the company
- Netflix faces competition from Amazon’s Prime Video and Walt Disney Co’s Hotstar
UAE, Qatar reject Bloomberg reports on defense capabilities
- The ministry said the UAE operates diverse, integrated and multi-layered air defense systems capable of countering a full range of aerial threats
DUBAI: The UAE and Qatar have rejected Bloomberg’s reporting on their defensive capabilities, describing the claims as inaccurate and misleading.
In a statement, the UAE Ministry of Foreign Affairs said the report did not reflect the country’s level of preparedness, technological sophistication or operational readiness. It said the UAE operates diverse, integrated and multi-layered air defense systems capable of countering a full spectrum of aerial threats, including long, medium and short-range systems that provide comprehensive protection of national airspace.
The ministry also said the country maintains a robust strategic stockpile of munitions to ensure sustained interception and response capacity over extended periods. It reaffirmed that the UAE’s defense capabilities and national security framework remain “steadfast and uncompromised,” stressing that the safety of citizens, residents and visitors remains a top priority.
In a separate statement, Qatar’s International Media Office denied a Bloomberg report claiming the country’s stockpile of Patriot interceptor missiles had been depleted.
It said the inventory held by the Qatar Armed Forces “has not been depleted and remains well-stocked,” adding that the military remains at full readiness to defend the nation against external threats.
Qatar also criticized the publication of what it described as unverified information during a fast-moving and sensitive period in the region, calling it irresponsible and warning that it is reviewing all appropriate options, including legal measures, to ensure the information is corrected.
