Netflix plans a cheaper subscription for its video streaming service in some developing countries. With the cheaper version, the company hopes to attract more customers. The plan appears to be a change of plans for Netflix, previously the company was more likely to increase prices or offer higher quality versions of its content in higher priced tiers.
Nevertheless, Netflix CEO Reed Hastings mentioned the plan in an interview with Bloomberg. He didn’t provide any further details on the plan other than that Netflix will test a lower-priced version of its streaming service in some markets.
Netflix would not provide the same subscription for lower prices in developing countries, according to Bloomberg. Instead, the video streaming service would offer a reduced version of its platform for a reduced price.
The cheaper version would reportedly especially be targeted at Asian countries. Netflix is developing more than 100 film and TV projects across India, Korea, Japan, Thailand and Taiwan.
Currently, Netflix has 130.4 million subscribers. According to Hastings the market in India alone could already attract 100 million subscribers.