Netflix reduces subscription prices in 30+ countries

If you’re a Netflix subscriber or thinking of becoming one, you’re in for some great news!

Netflix has just reduced its subscription prices in over 30 countries across Asia, Europe, Latin America, sub-Saharan Africa, and the Middle East. That means more movies, shows and original content for less!

The streaming giant announced the decision on Thursday, February 24, 2023, as it tries to attract more subscribers in a highly competitive market and tough economic times. According to the company, it’s always looking for ways to improve the experience of its members, hence the decision to lower subscription rates.

“We can confirm that we are updating the pricing of our plans in certain countries,” Netflix said in a statement. The countries affected include Yemen, Jordan, Libya, Iran, Kenya, Croatia, Slovenia, Bulgaria, Nicaragua, Ecuador, Venezuela, Malaysia, Indonesia, Thailand, the Philippines and others.

Kali ni, dropping down is good news ✅ Starting today, our Basic Plan in Malaysia is now RM28 per month for both new and existing members. pic.twitter.com/lcqMpHDJW1

— Netflix Malaysia (@NetflixMY) February 21, 2023

The new pricing in the region is set to change the game, particularly as the cost of data is high, and internet access is limited. The mobile plan will likely be in high demand, as it is more affordable and accessible to a broader segment of the population. With the new prices, Netflix is expected to be more competitive in the region’s streaming services market.

Netflix new pricing

The Mobile plan, priced at about $3, and the Premium plan, just under $10, are among the affected subscription plans. The new pricing is also applicable in Kenya, where the Mobile plan costs Ksh200, Basic Ksh300, Standard Ksh700, and Premium Ksh1 100. The company did not name the UK or the US as countries where it had cut its prices.

“Netflix is trying to attract more subscribers in developing markets by lowering its prices, but it’s not doing so in countries that account for the majority of its revenue,” said Paolo Pescatore, an analyst at PP Foresight.

The decision by Netflix to cut its subscription rates has been met with mixed reactions, with some applauding the move while others criticize the streaming giant for not going far enough.

In addition to the price cuts, Netflix has also introduced measures to clamp down on password sharing. In some countries, subscribers are now required to pay extra charges if they want friends and family to share their subscriptions.

While some people have expressed concerns about these new measures, Netflix has defended them, stating that they are necessary to ensure the platform remains sustainable in the long run.

If you’re a movie lover, now might be the perfect time to subscribe to Netflix or upgrade to a higher subscription plan, and enjoy the wide variety of movies and shows available. Remember, these price cuts are only available in certain countries, so be sure to check if your country is included in the reduction. As Netflix continues to expand its reach, we can only hope for more exciting changes in the future!