Is Netflix about to its lower prices? Yes, in some places, says CEO | Apps
The thing is, details are light right now, with the CEO not confirming whether prices would be lowered in current markets, offered cheaper in places where Netflix has yet to expand, and so on. There are so many questions that need answers, such as where and when this will happen. Bloomberg simply reported Hastings is confirming Netflix will begin testing new pricing tiers that may come with different features than its more expensive plans.
Hastings provided little detail about how many plans would be available and how they would differentiate from each other. However, we can read between the lines a bit and imagine the company testing a budget-friendly, slimmed down version of Netflix in developing markets such as India, where Hastings said Netflix has 100 million potential customers. We can therefore assume this cheaper service might just be a way for Netflix to boost sales.
Netflix could then better compete with localised video services like Star India’s Hotstar Premium, which costs much less than Netflix. As for what sort of features Netflix would drop, we’re wondering if it could, for instance, offer a plan that only shows Netflix Original programming. But that’s just us guessing. We’re in early days territory – and much is unknown. But we suspect Netflix will try anything, especially with Disney+ coming.