JioCinema, India's popular on-demand video streaming service, introduced new monthly subscription plans on Wednesday. The lowest level costs just 35 cents. The revamped pricing strategy comes as the market-leading service seeks to put more pressure on rivals such as Netflix and Prime Video and “redefine the premium entertainment narrative.”
The service, backed by Asia's richest man Mukesh Ambani, has introduced two monthly pricing plans. One costs INR 89 ($1), which features support for four simultaneous screen accesses, and the other costs INR 29 for single screen access. Aside from simultaneous viewing, both tiers offer identical features, including an ad-free experience, the ability to stream in 4K, and the ability to download for offline viewing.
JioCinema Premium subscribers can enjoy an ad-free experience across the platform, including the ongoing popular cricket tournament, the Indian Premier League, a spokesperson confirmed to TechCrunch. JioCinema Premium also includes access to everything else on the platform, including a vast library of content from Peacock, HBO, Paramount, and Warner Bros. Discovery.
JioCinema last year launched its annual premium tier with international catalog at Rs 999. A spokesperson said that his Viacom18, JioCinema's parent company, has discontinued the previous plan and users who subscribed to it will be automatically switched to the new plan.
The service will also continue to offer ad-supported streaming of cricket tournaments for free, the spokesperson added.
The price change follows Ambani's Reliance, which owns a majority stake in Viacom18, merging its media business with Disney's local unit earlier this year. The venture is valued at $8.5 billion and will capture 85% of India's on-demand streaming service viewers and about half of its TV viewers, analysts said. Disney operates Hotstar, a popular streaming service in India and Southeast Asia.
JioCinema also undercuts rivals Netflix and Prime Video with its new 35-cent premium tier, which is part of its cheapest plan at $2.40 and $2.15 respectively in India.
Two years ago, Reliance and Disney agreed to spend about $6 billion on five-year streaming and broadcast rights to the Indian Premier League. Viacom18 plans to continue offering his ad-supported IPL streaming experience for free to consumers, but expects to recoup much of its investment over the next three years.
“Creating and building an entertainment ecosystem with products made for every Indian household is not just a business strategy, but also a vision to empower our country and our users with unparalleled entertainment experiences,” said Viacom18 Digital. said Kiran Mani, CEO. In a statement. “JioCinema Premium aims to redefine the narrative of premium entertainment for every Indian while building daily viewing habits.”