Netflix Drops Prices of Streaming Plans in More Than 100 Countries and Territories
24.02.2023 - 17:23
/ variety.com
Todd Spangler NY Digital Editor Netflix, facing more competition globally in the streaming wars, has cut pricing in more than 100 markets worldwide — in some cases, chopping the price of monthly plans in half — to boost subscriber acquisition and retention. The streamer has reduced prices in countries and territories across Asia, Latin America, Europe, the Middle East and Africa. Netflix is not reducing prices in North America or Western Europe, its most mature markets. All told, the price reductions span more than 100 markets, according to research firm Ampere Analysis (see list, below). Those include Malaysia, Indonesia, Thailand, the Philippines, Venezuela, Nicaragua, Ecuador, Kenya, Iran, Croatia, Bosnia and Herzegovina, Serbia, Albania, North Macedonia, Slovakia, Yemen, Jordan, Libya, Slovenia and Bulgaria.
For example, in Venezuela, Netflix’s single-stream Basic plan is now $3.99/month (down 50% from $7.99 previously); the two-stream Standard plan is $5.99/month (vs. $10.99 before); and the four-stream Premium tier is now $7.99/month (vs. $13.99). In the Philippines, Basic dropped from ₱369 to ₱249/month and Standard was reduced from ₱459 to ₱399/month. Netflix confirmed it has reduced pricing in “certain countries” but did not detail which ones. The Wall Street Journal earlier reported on the company’s price cuts. “Members have never had more choices when it comes to entertainment. We’re always exploring ways to improve our members’ experience,” a rep said in a statement. In Q4, Netflix gained 7.7 million new subscribers, growing its base in all geographic regions and blowing past the 4.5 million pickup it previously forecast, to reach 230.75 million worldwide as of the end of 2022. Greg Peters, Netflix’s newly