Netflix has announced that will offer a free trial to Indian users for 48 hours. During the third quarter’s earnings call, Greg Peters, chief product officer, Netflix, said they’ll launch this new offer from December 4, 2020. It will be first tested in India and then launched in other countries.
Under this new StreamFest scheme, users and non-users will get access to all the content on Netflix without any commitment or the need to provide payment details. There is still uncertainty whether the StreamFest will be a complete replacement for the 30-day trial period or if Netflix will use both of these offers in tandem to expand its reach worldwide.
Netflix withdraws 30-day trial
Earlier, every new user used to get a free trial period of 30 days, which Netflix withdrew last week. The company is already trying alternate marketing promotions, including removing paywall and offering some of the content for free.
Even the free trial offer required users to provide their payment details and once this period was over, the money for the subscribed plan would automatically get deducted.
Netflix subscription rate slows down
Netflix’s shares tumbled down on October 20, 2020 after it reported that its subscription growth had slowed down in the last quarter. This was after it experienced a steep boom in the early days of the pandemic.
Netflix added more than 28 million paying subscribers in 2020 but only 2.2 million of those came in the third quarter, according to a report by Variety.
“We think this is primarily due to our record first-half results and the pull-forward effect,” Netflix said in the earnings release letter. “While this is encouraging, we still have much work to do and we’re working hard to replicate this success in India and other countries.”
The Netflix app offers a wide range of plans for Indian users, starting from ₹199 for mobile users. The other packs include a ₹499 plan for a single profile use while the ₹649 plan is for two different profiles. The most expensive plan will come for ₹799 and will offer up to four profiles while providing content in 4K resolution.