Netflix: Cuts Prices for Subscribers in More Than 30 Countries – Newsbomb – News

Streaming giant Netflix has slashed prices in more than 30 countries as it tries to attract more subscribers.

the Streaming giant Netflix It has lowered prices in more than 30 countries as it tries to attract more subscribers. Prices fell in parts of Asia, Europe, Latin America, sub-Saharan Africa and the Middle East.

This news comes with the rising cost of living It makes families tighten their belts And Netflix is ​​facing increasing competition from competing services. A company spokesperson told the BBC: “Members have never had more choices when it comes to entertainment.”

Include countries where subscription fees have been reduced Malaysia, Indonesia, Thailand, Philippines, Croatia, Venezuela, Kenya and Iran. Discounts apply to some rate plans, with subscription fees cut in half in some cases.

The company did not mention the United Kingdom or the United States as countries that cut its prices. “We’re always exploring ways To improve our members’ experience. We can confirm that we are updating pricing for our plans in some countries,” a Netflix spokesperson said.

Netflix, which It operates in more than 190 countries, faced increasing competition from streaming competitors including Amazon, HBO, and Disney. In the past year, the company has cut hundreds of jobs and launched a less expensive ad-supported streaming option as it struggles to increase its share of the increasingly competitive streaming market.

In January, Netflix co-CEO Greg Peters described how Plan to attract more subscribers. “We want to make this spectrum broader as we seek to serve more members around the world and try to deliver the right value at these different price points.”

You want company too To reduce users’ sharing of their subscriptions. Netflix has introduced password sharing restrictions in more countries. This means that customers will have to pay an additional fee if they want friends and family who don’t live with them to share their subscription.

Last summer, Netflix revealed that it lost nearly a million subscribers between April and the end of June as more people decided to abandon the service. However, in January the company said that the number of subscribers It will be launched at the end of 2022.