Netflix To Reduce Prices In Some Countries Due To Losing Customers
According to a media report, Netflix is surprisingly reducing the prices of its subscriptions in more than three dozen countries – with the exception of the USA, Canada, and most European countries. Where prices fall, they do so by up to 50 percent.
This is a strange signal: After the announcement that it would take stricter action against account sharing and charge users more when sharing accounts, Netflix is now lowering its subscription prices in some countries. This is reported by the Wall Street Journal.
The new prices initially apply primarily to entry-level subscriptions in around 30 countries worldwide. The premium plans remain untouched – and in big markets like the US Netflix has left the prices completely the same as before. In Germany, too, the current prices seem to remain the same.
Netflix spokeswoman Kumiko Hidaka confirmed that the company is updating the prices of its subscriptions in “certain countries,” but didn’t specify which ones. As reported by The Wall Street Journal, countries expected to see price cuts include Yemen, Jordan, Libya, Iran, Kenya, Croatia, Slovenia, Bulgaria, Nicaragua, Ecuador, Malaysia, Indonesia, Thailand, and the Philippines. According to an earlier report by Cord Cutters News, the price cuts also apply to Bosnia, Herzegovina, Serbia, Albania, North Macedonia, and Slovakia.
The new pricing comes shortly after Netflix announced plans to monetize password-sharing subscribers in Canada, New Zealand, Portugal, and Spain. Under the new rules, subscribers will have to pay extra for anyone using their account who doesn’t live in their “main” household. Hinting at the price changes in January, Netflix Co-CEO Greg Peters said: “We’re trying to serve more members around the world by trying to deliver reasonable value at different price points, and we’re doing a good job of that expansion of this range,” says Peters.
Prices according to “market conditions”
“There are a number of people around the world in countries where we don’t have a strong presence yet and we have more opportunities to reach out to them.” So for Netflix, that means lowering prices in some countries and raising prices in others.
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