MUMBAI: Online movie rental service Netflix, Inc announced that it was dropping the price of two of its most popular subscription plans by $1.

The price reduction will benefit a majority of Netflix’s more than six million members. For one low fee, Netflix members receive movies and TV series on DVD and can also watch a growing number of them instantly on their personal computers (PCs) over the Internet.

The two Netflix plans being reduced today by $1 provide unlimited DVD rentals and the ability to watch movies and TV series instantly on a PC for no additional charge. The $9.99 monthly plan is reduced to $8.99 and provides unlimited DVD rentals with one DVD out at a time and the ability to watch nine hours of movies and TV series instantly on a PC. The $17.99 monthly plan is reduced to $16.99 and provides unlimited DVD rentals with three DVDs out at a time and the ability to watch 17 hours of movies and TV series instantly on a PC.

The $4.99 and $13.99 monthly plans remain unchanged as their prices were already reduced from $5.99 in February and $14.99 in June, respectively. The company said that positive subscriber reaction to lowering the $14.99 plan to $13.99 for unlimited DVD rental with two discs out at a time was an important factor in today’s price reductions.

“Netflix remains the best movie rental experience on the Internet. Netflix pioneered the online movie rental industry ten years ago and remains its leader by offering convenience, selection and value. Today, value got a boost,” said Netflix founder, chairman and CEO Reed Hastings.

This is the lowest price that Netflix has ever offered consumers. Netflix members can select movies and TV series from a growing library of more than 2,000 titles and start watching them on their PCs in as little as 30 seconds.