If you have been wishing to get Netflix streaming plans but could not due to its costly services, we have good news for you. Its Co-Chief Executive Officer Reed Hastings has come up with a new strategy to cover the ground for audiences who want to enjoy streaming at a low cost. Netflix’s low-cost streaming plan will launch soon for such customers.
Why Netflix is Reducing Price of Streaming Plans?
Reed Hastings said.
“I’m a bigger fan of consumer choice. And allowing consumers who would like to have a lower price and are advertising-tolerant get what they want, makes a lot of sense.”
Netflix took this move after it lost more than 2 Lakhs customers this year alone. The company may lose more customers in the next few months and if we believe official reports by Netflix, the figure would be 2 million.
To balance both consumers’ and customers’ interests, Netflix is going with different strategies. The low-cost streaming plan is the solution as of now. It is new for the company as the ad-supported model was never their choice but Hastings is sure about the strategy.
He said,” I am sure we will just get in and figure it out.” Hastings also said the company may or may not test the model before launching it. Currently, Netflix has 4 streaming plans for viewers.
- First is a mobile plan that costs Rs 149 with only 1 downloading option, unlimited movies, shows, and games. Users can, however, continue the plan on a tablet but the laptop and TV are restricted.
- The second plan is called the Basic plan which is available at Rs 199 per month with similar facilities except it allows streaming on TV and laptop.
- The standard plan has increased the number of screens and downloads with the HD option as well. All these services are available at the price of Rs 499 per month.
- Last is the Premium plan for customers who want Ultra HD features. At the price of Rs 64/ month, one can stream on 4 screens at the same time and even download on 4 devices including a laptop.
The new plan will make the fun cheaper but with the interruption of ads.