Netflix slashes prices in India

Netflix has slashed the prices of its streaming services in India.

This marks the first time the streaming platform is cutting prices since launching in India five years ago.

Netflix cut prices in a bid to better compete with fierce rivals Disney and Amazon.

Netflix said in a blog post that it cut prices by 60%, to 199 rupees ($2.62) a month, for its basic plan.

The price of its mobile-only plan will drop a quarter to 149 rupees, with overall prices of various plans falling 18% to 60%.

Amazon Prime Video charges 179 rupees ($2.36) a month but, unlike Netflix, it allows users to simultaneously watch content on multiple devices from the same account, and offers a cheaper annual payment plan.

Disney + Hotstar offers an annual premium plan with access to all its content in 4K at 1,499 Indian rupees ($19.76).

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