Netflix slashed on Tuesday the prices of its streaming services in India, for the first time since launching five years ago in the South Asian nation, as it moves to better compete with fierce rivals Disney and Amazon .
The streaming giant cut prices by 60%, to 199 rupees a month, for its basic plan that lets users watch content on a single device, it said in a blogpost.
For years, Netflix priced its products far above competitors in India such as Disney and Amazon, citing the much higher income of households that spoke English and watched entertainment in the language. "To capture this market, it needs to bring down" costs, added the analyst, based in the financial capital of Mumbai, as the firm competes with big rivals.
Disney + Hotstar offers an annual premium plan with access to all its content in 4K at 1,499 Indian rupees .
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