Apple has finally flexed its muscles to take on content-streaming giants like Netflix, HBO, Amazon Prime and Disney with aggressive pricing, free offers and original stories.
The announcement of a much cheaper Apple TV+ subscription than expected (99 a month in India and $4.99 in the U.S. and other countries) immediately saw shares of Netflix, Disney and Roku tumbling down.
An over-the-top (OTT) viewer in India spends approximately 70 minutes a day on video streaming platforms, with a consumption frequency of 12.5 times a week, an Eros Now-KPMG report said last week.
“Apple built on their integrated ecosystem advantage by announcing low-monthly pricing for Apple Arcade and Apple TV+, and a free year of Apple TV for a buyer of an Apple device,” said Frank Gillett, vice-president and principal analyst at Forrester.
Netflix, which has reached 1.3 million subscribers in India, recently unveiled its mobile subscription plan for India at 199 per month. This is its fourth Indian plan, in addition to the existing basic, standard and premium plans which are priced between 499 and 799.
Amazon Prime Video, a part of Amazon’s Prime subscription, costs 129 per month.
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