With 3 months subscription offer at Rs 199, London-based Mubi launches in India

London-based curated film streaming service Mubi has launched its services in India. The on-demand movie streamer, being aware of India's price-sensitive and fierce competition in the market, is offering streaming services at a comparatively lower price.

Mubi's subscription for the inaugural three months in India is priced at Rs 199 ($2.8). The promotional membership is limited to new users and after three months, it will charge Rs 499 per month.

The price offered in India is lower than what it offers in the UK (Rs 794) and the US (Rs 789). Currently, it offers about 30 movies.

The London-headquartered firm's collection of content is much thinner as it focuses on offering critically acclaimed cinema on its platform.

Some of the Indian collection listed on the site include Ek Din Achanak (1989), Rudaali (1993), Pyaasa (1957), Kasba (1990), and Padatik (1973). Unlike Netflix, it has only two channels: India and World.

Within a week, this is the second international OTT player arriving in India. After Flipkart, last week Disney had announced its entry in the OTT market with Disney Plus.

Currently, Hotstar claims to be number one in India's streaming space with around 300 million MAUs.

The existing players in the segment are aggressively adopting ways to woo millennials. Global platforms like Amazon and Netflix also had been tweaking their prices to attract more consumers. Netflix, which claims 1.5 million subscribers base at the moment, had in July launched a mobile-only subscription at Rs 199.

Some of the domestic streaming players in the segment include  MXPlayer, Jio, Zee5 and AltBalaji.

In India, the on-demand streaming market has been growing at a higher rate than the global average. According to a PwC report, it is projected to grow at 22.6% CAGR, from $297 million in 2017 to $823 million in 2022.