The gap is narrowing as the most basic Netflix mobile-only plan now works out to about Rs 1,800 a year. The price cut comes even as arch rival Amazon Prime has increased its annual plan from Rs 999 to Rs 1,499. Amazon Prime Video membership is priced at Rs 1,499 annually. Meanwhile, competition like Disney+ Hotstar offers their premium plan at Rs 1,499 annually. R Madhavan and Surveen Chawla-starrer Decoupled is scheduled to be released in December. The price cut also comes as the American streaming giant has been announcing a host of new titles, international and Indian, such as Red Notice, The Harder They Fall, and The Princess Switch, Dhamaka and Meenakshi Sundareshwar. “So whether you're watching with your family or just on your own, in the mood for a superhero tale (Minnal Murali), genre-bending series (Yeh Kaali Kaali Ankhein), dramedy (Decoupled), family drama (Finding Anamika), thriller (Looop Lapeta) or comedy special (Kapil Sharma), along with films and series from across the world, there's something for everyone,” it stated. In the premium plan, four people can watch from one account at the same time, while two people can watch with the standard plan and only one person at a time can watch with the basic and mobile plans. It must be mentioned here that only people who live with the user of a plan can access the account. Its most expensive shows include The Crown, the hit royal drama.The new plans come into effect from December 14. In November it struck a deal to double the size of its Shepperton Studios base in Surrey, where productions include Enola Holmes and The Old Guard. Netflix said it spent around $1bn (£760m) making shows and films in the UK last year, where it says it generates 10,000 jobs for cast and crew. The company is also expanding into video games on smartphones. The company pointed to recent updates it had made to the streaming service, including Fast Laughs, which presents users with a feed of short comedy clips, and Play Something, which automatically presents subscribers with a TV show they have not watched before. It last raised prices in January 2021, when it increased the cost of the standard and premium plans. More than half of UK households subscribe to Netflix, according to Ofcom. Investors have seen rising prices as a sign of confidence that the service is essential enough not to cancel. Netflix recorded its weakest annual growth since 2015 last year and has said it expects its slowest start to a year on record. The price change will apply immediately for new customers, while existing ones will be notified in the run-up to their next billing cycle. The latest rise means the most expensive Netflix tier costs almost double the £8.99 it did when first introduced. "We offer a range of plans so members can choose a price that works best for them." "Our updated prices reflect the investment we have made in our service and catalogue, and will allow us to continue making the series, documentaries and films our members love as well as investing in talent and the creative industry. "We have always been focused on providing our members both quality and clear value for their membership,” Netflix said. It is the first time the company has raised the price of its cheapest tier, which allows users to watch on just one screen at a time, since launching in the UK in 2012. Netflix has repeatedly raised prices in recent years, saying it will allow it to invest in new content, including in the UK where it has a major production operation. Sky said last month it would increase TV, broadband and mobile bills. The rise comes as households grapple with rising inflation due to higher energy prices and supply shortages. The premium tier, which lets users watch on up to four devices at once and in ultra high-definition, will rise by £2 to £15.99 a month. The streaming giant said prices for its basic and standard plans would rise by £1 a month, to £6.99 and £10.99 respectively. Netflix has raised prices for the second time in just over a year, taking the price of its most expensive subscription to almost £16 a month.
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