Streaming giant Netflix has quietly lowered its subscription prices in more than 30 countries, including parts of the Middle East, Sub-Saharan Africa, Europe, Latin America, and Asia. The reductions range from a modest cut to a price slash by as much as half, as the company experiments with finding the right balance between global revenue and subscriber growth, especially as viewer habits change post-lockdowns. Last October, Netflix also introduced a cheaper ad-supported plan in 12 countries. This move contrasts with several other streaming services, such as Disney+, Hulu, and Sling TV, which have raised prices recently.
In its January earnings call, Netflix co-CEO Greg Peters noted the company wanted to find areas where it could raise prices to fund new content investments. “We think of ourselves as a non-substitutable good,” Peters said. The recent price cuts in regional markets could help Netflix add subscribers, especially in areas where its share could be higher.
However, the company is still rolling out a new monthly fee for people who share their login credentials outside their homes. After trialling the program in Latin America, the company has launched paid account sharing in Canada, New Zealand, Portugal, and Spain, with plans to introduce the new fee in the US early this year.
