Apple surprised us with a $4.99/month subscription fee for the new Apple TV+ service. The company is said to have spent more than $6 Billion to produce original content for the streaming service. Interestingly, Apple TV+ is priced at just Rs 99 ($1.4)/month in India. The price is extremely competitive especially since Netflix charges Rs 500($7)/month in India.
How does Apple TV+ Stack up against its competition in India?
India is a price-sensitive market and Apple is very keen to establish themselves in the country. The Star owned Hotstar is priced at Rs 299/month and even by these standards the Apple TV+ is very affordable. Amazon is offering Prime Video at Rs 129/month. Netflix is one of the most expensive streaming services in India and it is for this reason they recently launched an India exclusive mobile-only subscription priced at Rs 199.
Why India is a Crucial Market for Apple TV+?
India has several streaming services like Netflix, Amazon, ZEE5, ALTBalaji, Voot, and Viu. Meanwhile, according to a recent report, India is on the track to overtake the US when it comes to time spent on digital videos. Statistically, India consumes the highest data per user in the world and this number stands at 7.69GB.
The bottom line is that India is a very important market for Apple TV+. However, it will not be easy for Apple to score a win in the hyper-competitive Indian market.
Apple TV+ is expected to face a slew of challenges in the Indian market. Firstly, Apple TV+ works only on Apple devices and a majority of smartphone users in India use Android. In other words, Apple’s market share in the Indian smartphone market is abysmal and this will limit the access to Apple TV+. Despite the low pricing, Apple TV+ will not be accessible to budget smartphone users in India. As of now, Apple TV+ seems to lack regional content while Netflix and Amazon Prime are already offering the same.