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Sky has cut the price of Now TV, as it bids to see off competition from less content-rich but cheaper services such as Lovefilm Instant and Netflix.

Now TV, which lets you see the pick of Sky’s movies and sports content on your smartphone, tablet, lappy or desktop or on TV via the Now TV set top box, is now available for a monthly subscription of £8.99 per month. That’s down from £15.99 per month previously.

The move comes after Neflix scored a notable hit recently with the watercooler conversation staple that is Breaking Bad.

Sky Chief Executive Jeremy Darroch said: “We’re playing our hand on Now TV to find what is the sweet spot in terms of pricing.

“Generally these over-the-top services are coming in at these lower price points, so we decided to go with the lower price.”

Last week, Now TV boxes finally went on sale in high streets, having previously been available online only.

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