Netflix Drops Prices of Streaming Plans in Some Locations

Netflix, one of the most popular streaming giants today, announces it’ll cut streaming plans in more than 100 territories and countries. In some locations, the platform will reduce fees in order to boost subscriber acquisition. Another problem the streaming service is hoping to solve by implementing such measures is improving subscriber retention rates. The fee cuts will take place on various territories on almost every continent.

Netflix Reduces Subscription Fees

Netflix drops prices on subscription plans in various countries in the Middle East, Europe, Latin America, and Asia. Some of the territories affected by the steaming platform’s subscriber acquisition policy include Bulgaria, Yemen, Jordan, Serbia, Albania, Croatia, Ecuador, Kenya, and many more. The full list of countries can be found online.

As might be expected, the platform will not be reducing prices in its most mature markets – Western Europe and North America. According to statistics, Netflix gained over seven and a half million subscribers in Q4 of 2022.

Other Prominent Policy Changes

Some experts have commented on dropping subscription prices in some international markets as a measure to boost the company image after introducing changes in their paid-sharing policy. As many people know, the platform decided to tackle unauthorized password-sharing accounts for subscribers. The Netflix ToS page says the option will still be available for members within one household.

Also, the streaming giant recently introduced a “buy an extra member” option for some subscribers, allowing them to add friends to their accounts for an additional fee. In addition, in the countries where this option is already available, Netflix has announced they’ll start blocking devices that are trying to use someone else’s account.

In all, Netflix hopes cutting down on subscriptions will help the streaming platform secure even more international markets over the next few years. We can only wait and see whether their strategy will work.