Netflix is a streaming service that’s taken the world by storm, offering thousands of movies and TV shows at the click of a button. With its wide variety of content and user-friendly interface, it’s no wonder Netflix has become a household name.
Netflix is reducing its subscription prices in more than 30 countries to attract customers in the face of growing competition. The affected countries include Yemen, Jordan, Libya, Iran, Kenya, Croatia, Slovenia, and Bulgaria. Latin American countries such as Nicaragua, Ecuador, and Venezuela have also seen a decline in membership costs, as well as parts of Asia including Malaysia, Indonesia, Thailand, and the Philippines. However, the price reduction only applies to specific Netflix tiers in these countries.
This move goes against recent trends not only for Netflix but for the wider streaming industry. Some reductions are substantial on a percentage basis, according to media and entertainment analyst John Hodulik from UBS Group AG. However, Greg Peters, co-chief executive officer of Netflix, indicated during the January earnings call that the company is exploring markets where they can raise rates to support ongoing content spending. Peters emphasized that Netflix is a non-replaceable good option.
According to a Netflix spokesperson, the streaming giant also has a chance to acquire new customers in markets where it currently does not hold a dominant position. The company is dedicated to providing an experience that exceeds their expectations, the spokesperson said.
Last year, Netflix increased its subscription prices for users in the US, Canada, UK, and Ireland. At the moment, India is not visible in the list of countries with reduced subscription prices.
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Netflix is a streaming service that’s taken the world by storm, offering thousands of movies and TV shows at the click of a button. With its wide variety of content and user-friendly interface, it’s no wonder Netflix has become a household name.
Netflix is reducing its subscription prices in more than 30 countries to attract customers in the face of growing competition. The affected countries include Yemen, Jordan, Libya, Iran, Kenya, Croatia, Slovenia, and Bulgaria. Latin American countries such as Nicaragua, Ecuador, and Venezuela have also seen a decline in membership costs, as well as parts of Asia including Malaysia, Indonesia, Thailand, and the Philippines. However, the price reduction only applies to specific Netflix tiers in these countries.
This move goes against recent trends not only for Netflix but for the wider streaming industry. Some reductions are substantial on a percentage basis, according to media and entertainment analyst John Hodulik from UBS Group AG. However, Greg Peters, co-chief executive officer of Netflix, indicated during the January earnings call that the company is exploring markets where they can raise rates to support ongoing content spending. Peters emphasized that Netflix is a non-replaceable good option.
According to a Netflix spokesperson, the streaming giant also has a chance to acquire new customers in markets where it currently does not hold a dominant position. The company is dedicated to providing an experience that exceeds their expectations, the spokesperson said.
Last year, Netflix increased its subscription prices for users in the US, Canada, UK, and Ireland. At the moment, India is not visible in the list of countries with reduced subscription prices.
Read more: Wordle 616 answer for today: Here is the Wordle answer for February 25