Netflix limited password sharing to the least and of course, users of the platforms will decrease by a significant amount. In a bid to balance the numbers, the streaming mogul is introducing a subscription price reduction, although it’s for a very limited number of countries – but still works.
This year’s ban on password sharing is anticipated to cost Netflix some subscribers. Although losing a few million customers in the first three quarters of 2022, the streaming service acquired about 8 million users in the fourth quarter of 2022, exceeding its initial losses.
Netflix announced subscription price reduction in more than 30 countries. According to the Wall Street Journal, some savings equal half of existing monthly subscriptions, while others are lower but still considerable.
Netflix subscription price reduction
Regrettably, Netflix did not give a comprehensive list of countries where membership fees will be reduced, but we do know where these adjustments will be implemented. Middle Eastern nations such as Yemen, Jordan, Libya, and Iran, for example, will gain greatly from significant reductions.
At least three nations in Eastern Europe, including Bulgaria, Croatia, and Slovenia, are in the same boat. In Latin America, Netflix has announced intentions to reduce subscription fees in three countries: Ecuador, Nicaragua, and Venezuela. Last but not least, Netflix memberships will be cheaper in various African and Asian nations, including Kenya, Indonesia, Malaysia, the Philippines, and Thailand.
While Netflix announced that it is revising the cost of its services in select areas, it did not provide exact pricing information. As previously said, the subscription price reduction may vary by area, so you’ll need to contact your local Netflix branch for additional information.
This is a significant decision that appears to contradict Netflix’s most recent remarks, which indicated plans to raise rather than cut costs. It should be noted, however, that these modifications will only be implemented in nations where costs are already too high. Oh well, the bottom line is that Netflix is trying to retain its customers given the competition that is now surfacing recently.
