JioCinema Slashes Subscription Price to take on Netflix and Amazon Prime

JioCinema, the streaming platform operated by India’s Reliance Industries, has announced a significant reduction in the prices of its premium subscription plans.

Jude Bellingham Real Madrid
@ EuroSport

The substantial cut in pricing plan of JioCinema is expected to intensify the competition in India’s streaming market, which includes heavyweights like Netflix and Amazon Prime, Reuters news report said.

The video streaming market in India is projected to achieve a revenue of $2.02 billion by 2024. The size of video streaming business is expected to achieve CAGR of 11.10 percent to $2.77 billion by 2027 in the 2024-2027 period.

JioCinema does not reveal the number of paid subscribers on its video streaming platform. Customers of JioCinema have earlier complained about the poor quality of video streaming. JioCinema recently aired the Laliga match between Real Madrid and Barcelona.

Mukesh Ambani earlier said India’s IPL is the most watched digital event in the world. IPL has created a global record with 45 crore viewers tuning into the platform, more than 12 crore people watching the final with a peak concurrency of 3.2 crore.

Under the new pricing strategy, JioCinema’s premium offering will start as low as 29 rupees ($0.3480) per month, marking a substantial decrease from its previous rate of 99 rupees ($1.19) per month. The platform, which is part of Reliance’s media unit Viacom18, aims to attract more subscribers by offering an ad-free viewing experience at a highly competitive price point.

The revised subscription plans include an introductory rate of 29 rupees per month for streaming on a single device and go up to 89 rupees for a “Family” plan, which allows streaming on four simultaneous devices. Existing JioCinema premium members will automatically receive the benefits of the “Family” plan at no extra cost, according to the statement released by the platform.

JioCinema, known for broadcasting the popular IPL cricket tournament for free, clarified that the new pricing applies only to premium content, while other offerings such as cricket matches and various shows will continue to be available free of charge.

This move comes as Reliance Industries, led by Mukesh Ambani, continues its strategy of disrupting competitors in the price-sensitive Indian market with aggressive pricing and attractive offers. Lower subscription prices are expected to bolster JioCinema’s position in the market, particularly following recent agreements with Disney to consolidate India TV and streaming assets, as well as content deals with major players like Warner Bros Discovery and NBCUniversal.

Among its diverse offerings, JioCinema boasts a library of popular titles such as “Succession” and content featuring beloved characters like Harry Potter, alongside a wide array of options catering to children, including popular Japanese anime series like Pokemon. With these competitive pricing adjustments and an expanding content library, JioCinema aims to solidify its presence in the highly competitive Indian streaming business.

Baburajan Kizhakedath