Netflix Cuts Subscription Prices in More Than 30 Countries
Netflix has cut prices in more than 30 countries in recent weeks as it attempts to attract more subscribers. Prices have been cut in parts of Asia, Europe, Latin America, sub-Saharan Africa and the Middle East. Netflix Cuts Subscription Prices
It comes as the rising cost of living sees households tightening their belts and Netflix faces increased competition from rival services.
“Members have never had more choices when it comes to entertainment,” a company spokesperson told.
The streaming company’s recent price cuts span Middle Eastern countries including Yemen, Jordan, Libya and Iran; sub-Saharan African markets including Kenya; and European countries such as Croatia, Slovenia and Bulgaria.
In Latin America, nations including Nicaragua, Ecuador, and Venezuela have seen reductions in subscription costs, as have parts of Asia including Malaysia, Indonesia, Thailand and the Philippines.
The cuts apply to certain tiers of Netflix in those markets—in some cases halving the cost of a subscription.
The company did not name the UK or the US as countries where it had cut its prices.
“We’re always exploring ways to improve our members’ experience. We can confirm that we are updating the pricing of our plans in certain countries,” a Netflix spokesperson said.
Increased competition between streaming rivals Netflix Cuts Subscription Prices
Netflix, which operates in more than 190 countries, has faced increased competition from streaming rivals including Amazon, HBO and Disney.
Last year, the firm cut hundreds of jobs and launched a less expensive streaming option with adverts as it fought to grow its share of the increasingly competitive streaming market.
In January, Netflix co-chief executive Greg Peters outlined how he planned to attract more subscribers.
“We want to make that spectrum even wider as we seek to serve more members around the world and trying to deliver appropriate value at those different price points,” Mr Peters said.
The company is also cracking down on people sharing their subscriptions.
Netflix introduced limits on password sharing in more countries earlier this month. These require customers to pay an extra fee if they want friends and family who don’t live with them to share their subscriptions.
Last summer, Netflix revealed that it had lost almost a million subscribers between April and the end of June as more people decided to quit the service. Netflix Cuts Subscription Prices
However, in January the company said subscriber numbers had jumped at the end of 2022.
