Netflix likely to bring out new wallet-friendly price plan

Netflix likely to bring out new wallet-friendly price plan
San Francisco: Netflix, world's leading internet entertainment service, is reportedly testing out a new price plan that would cost around half the prices of the current basic package.

According to details, the new price plan will cut the cost half and will cost customers around £2.99 a month in United Kingdom (UK) after a massive reduction as the current basic package costs £5.99 per month.

The plan will be exclusively available on a mobile devices like a smartphone or a tablet, so viewers would be unable to access their Netflix account from a computer or TV.

The price is also a colossal saving point when compared to the current £8.99 per month standard package.

Netflix’s target audience for this new plan seems to be commuters, who often catch up on the latest episodes of their favourite shows on trains and buses.

By the end of last year, the streaming giant was testing out the new mobile plan in Malaysia, India and Indonesia.

If the plan proves to be successful, Netflix will consider introducing the plan across the globe.

In a letter to shareholders, Netflix revealed: “In Q4, we launched a mobile-only plan in Malaysia and Indonesia (which we introduced to India in Q3 last year).

“We’ve seen similar results with this plan driving incremental subscriber growth and improving retention.

“We expect the mobile-only plan to be revenue-positive which will allow us to further invest in content to be enjoyed by our members and continue to feed the virtuous cycle.”

They added: “We plan to continue to test adding this plan, as well as additional ideas in other countries around the world.”

But although the plan is wallet-friendly, it will only offer viewers standard definition quality.