Netflix has decided to reduce the price of its subscription in more than 30 countries, according to the The Wall Street Journal. The changes occur due to stiff competition between streams and are aimed at attracting more customers, who now have a growing list of options.
This definitely goes against recent trends not just for Netflix, but for the broader streaming industry. Some of these percentage cuts are substantial.
John Hodulik, media and entertainment analyst at UBS Group AG, on Netflix’s recent price cuts.
The decision to lower prices comes as a surprise, especially since until last month, when it presented its financial results, the company’s plan was to increase values, as well as implement the controversial restructuring of the account sharing — which officially has come underhandedly to, in addition to bringing in more money with new plans and options, it also attracts more customers.
Find out here how Netflix restricted account sharing.
This isn’t, however, the first time streaming has used the strategy. In 2021, in comparison for space with Amazon Prime and Disney Plus, Netflix needed to reduce its prices in India, one of the most important markets for global growth.
According to the analysis of wsj extensionthe changes are a sign that big streamers are still struggling to decide what price point will offer the best mix of subscriber growth and overseas revenue.
When divulging that some countries would have price changes, Netflix said it knew “members have never had so many options when it comes to entertainment” and that the company is committed to delivering an experience that exceeds expectations.
The post Netflix cuts subscription prices in over 30 countries appeared first on Olhar Digital.
Source: Olhar Digital
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
