Netflix Lowers Pricing In More than 100 Countries

Streaming service Netflix has reduced its subscription prices in more than 100 countries over the past week as consumers continue debating which streaming services to keep despite price hikes.

Egypt, Yemen, Jordan, Libya, Iran, Kenya, Croatia, Slovenia, Bulgaria, Nicaragua, Ecuador, Venezuela, Malaysia, Indonesia, Vietnam, Thailand, and the Philippines are just a few places where prices have decreased.

Depending on the country, Netflix lowers its pricing to a different extent, although Ampere Analysis estimates that basic tier discounts range from 20% to 60%.

Almost 10 million Netflix subscribers, or more than 4% of the total subscriber base, are said to be impacted by the price reduction, according to the research and analytics company.

Netflix's Malaysian Twitter account tweeted, "From today, our Basic Plan in Malaysia is now RM28 per month for both new and current members," to inform local users of the good news. Formerly, the plan was RM35 per month.]

Kali ni, dropping down is good news ✅ Starting today, our Basic Plan in Malaysia is now RM28 per month for both new and existing members. pic.twitter.com/lcqMpHDJW1

— Netflix Malaysia (@NetflixMY) February 21, 2023

Given the direction the industry is currently going, the decision is somewhat surprising—but not really. Netflix has recently been under fire for implementing password-sharing policies in Canada, New Zealand, Portugal, and Spain.

In the upcoming months, the modifications will spread to more nations. A flurry of customer complaints over this has spread throughout social media sites.

Only Netflix charges its subscribers a price for disclosing their passwords.

Therefore it is feasible that Netflix will reduce its fees in an effort to make amends.

To compete with the competition is a further factor for the price reduction.

Recently, Netflix competitors Paramount+, Apple TV+, Disney+, and Hulu raised the cost of their subscriptions.

Moreover, Peacock recently eliminated its free tier as a choice for brand-new clients.

“We know members have never had more choices when it comes to entertainment,” a representative for Netflix told the Wall Street Journal.

The spokesman continued by saying that Netflix is dedicated to providing an experience that goes above and beyond.

This is not the first time that Netflix has reduced the cost of its service to attract new customers.

The streamer reduced the cost of subscriptions in India in 2021, lowering the cost of each monthly subscription plan by a minimum of 18% and a maximum of 60.1%.