This move is an attempt by the platform to respond to the needs of subscribers who, due to the increase in the cost of living, are looking for ways to reduce expenses wherever they can
Netflix has slashed the price of subscriptions to some packages in more than 30 countries in an attempt to attract more subscribers.
Prices have fallen in areas of Asia, Europe, Latin America, sub-Saharan Africa and the Middle East.
Countries joining the price drop are Malaysia, Indonesia, Thailand, Philippines, Croatia, Venezuela, Kenya and Iran.
Subscribers from Slovenia and Bulgaria will also see reductions in their packages.
This move is an attempt by the platform to respond to the needs of subscribers, who, due to the increase in the cost of living, are looking for ways to reduce “unnecessary” expenses where they can, but also to compete with emerging platforms that may pose a risk to her income.
So, after many years of dominance in the field of streaming, Netflix began to face serious competition with the appearance of services such as Disney+, Peacock, Paramount+ and HBO Max.
“Our members have never had more choice when it comes to their entertainment,” a spokesperson for the subscription service told the BBC.
The cuts apply to certain plans, where subscription fees can be halved in some cases.
“We are always looking for ways to improve our members’ experience. In this context, we confirm that the prices of some of our plans will be updated in some countries,” the spokesperson added.
Indicative is the fact that the company’s stock closed down 3.4% in New York on Thursday (2/23).
It is recalled that, in order to face this competition, before they came to reduce subscriptions, the company proceeded with hundreds of layoffs, while at the beginning of February 2023 it announced that it would put an “end” to the sharing of passwords at no cost.
Specifically, the subscription platform had stated that it would impose additional charges on accounts that show “overcrowding” of users.
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