Up to 45% off! Netflix cuts subscription prices in more than 30 countries
2023-02-24
On February 23 local time, the "Wall Street Journal" stated that streaming media giant Netflix lowered subscription prices in more than 30 countries or regions in order to maintain user growth amid increasingly fierce competition.
According to reports, the Netflix subscription fee involves multiple markets in Europe, Asia and Africa, including Middle Eastern countries such as Yemen, Jordan, Libya and Iran; Kenya and other sub-Saharan African countries; European countries such as Croatia, Slovenia and Bulgaria; Nicaragua, Ecuador and Venezuela Latin American countries; Asian countries including Malaysia, Indonesia, Thailand and the Philippines.
Price reductions vary from country to country. Wells Fargo estimates price cuts range from 20% to 45% in most countries. According to Netflix Analytics, the price cut could affect more than 10 million subscribers, about 4% of Netflix's subscriber base.
Interestingly, Netflix has not shown any signs of lowering prices in the past. In the 2022 Four Seasons Conference Call, Netflix executives also talked about raising subscription prices. Its new CEO, Greg Peters, said the company was looking for ways to raise prices, which would help put money into content.
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