OTT player Netflix has given a big gift to its customers. Netflix has simultaneously reduced its plans in 116 countries. Netflix has taken this decision after the success of its cheap plan in India. After making cheap plans in India, Netflix’s engagement has increased by 30 percent and 24 percent revenue. Netflix made its plans cheap in 2021 in India.
For the first time, Netflix had made its plans cheaper by 20-60 percent in the Indian market. “Subscription growth after our ad-only plan exceeded our initial expectations, and as expected, we’ve seen significantly less switching from our standard and premium plans,” Netflix said in a statement. The list of those countries has not yet been revealed where the company’s plans have become cheaper.
17 lakh new subscribers were received in the first quarter
Netflix, the long-running loss-making video streaming platform, has benefited this time. In the first quarter of 2023, there has been an increase in the number of subscribers to Netflix. Netflix got about 1.7 million new subscribers in the first quarter.
Netflix got this advantage when it stopped password sharing. Apart from this, Netflix has also got the benefit of an advertising-based subscription model.
From January 2023 to March, Netflix earned $ 2.88 per share i.e. around 236. During this, the total revenue of Netflix has been $ 8.162 billion i.e. around 670 crores. Netflix’s revenue in the second quarter is estimated at $ 8.242 billion, or about 676 crores. According to Wall Street, Netflix’s revenue in the second quarter could be $ 8.476 billion, or about 696 crores.