Netflix to launch lower-priced mobile screen plan in India
The streaming giant has, for the first time in 8 years, reported a decline in subscribers
Published - Jul 18, 2019 12:53 PM Updated: Jul 18, 2019 12:53 PM
Netflix will soon roll out a lower-priced mobile screen plan in India. This will complent their existing plan in the country. The announcement regarding this was made by the streaming giant along with the financial results for the second quarter of 2019, according to media reports.
"After several months of testing we have decided to roll out a lower-priced mobile screen plan in India to complement our existing plan. We believe this plan, which we will launch in Q3, will be an effective way to introduce a larger number of people in India to Netflix and to further expand our business in a market where PAY TV ARPU is low," the company reportedly said in a statement.
Meanwhile, the company has reporetd a decline in US subscribers for the first time in the last 8 years. Also, in Q2, the streaming giant added only 2.7 million international subscribers as against the 5 million projected in Q1.
In its letter to shareholders, the company said that Q2’s content slate drove less growth in paid net adds than anticipated. It added that the missed forecast was more noticed in regions where prices were hiked. The company denied any impact of the increased competition on the Q2 results.
"Additionally, Q1, there may have been more pull-forward effect than we realized. In prior quarters with over-forecasts, we have found that the underlying long-term growth was not affected and staying focused on the fundamentals of our business served us well," the company reporetdly said.
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