Netflix cuts subscription rates in 116 countries following success in India

Entertainment OTT player Netflix has slashed subscription rates in 116 countries following the success of its business model in India, the company said on Wednesday.

Netflix has seen a 30 per cent growth in customer engagement and 24 per cent revenue growth year-on-year in India after it launched a low-priced subscription plan in the country in 2021.

The company had for the first time reduced subscription prices in the range of 20-60 per cent to suit the India market and deepen its penetration.