Netflix mulls to slash subscription prices

Dubai - The news should cheer the 130 million paying subscribers.

Netflix is considering plans to slash prices and introduce a cheaper tier that would be less than the current £5.99 per month 'Basic' package, a Metro report said. 
The news should cheer the 130 million paying subscribers who have been subjected to multiple price hikes in the last few years. 
Netflix intends to add nearly 10 million new subscribers by 2018-end. And the best way to do is offering a low-cost subscription.
"We'll experiment with other pricing models not only for India, but around the world that allow us to sort of broaden access by providing a pricing tier that sits below our current lowest tier," Gregory Peters, Netflix's chief product officer, was quoted as saying in the report. "And we'll see how that does in terms of being able to accelerate our growth and get more access," he added. 
Last year, the streaming service has increased prices on its mid-tier and premium packages to £7.99 and £9.99 respectively. It said the hike was meant to create high-quality original programming, with more exclusive TV shows and movies.