Netflix reduced prices in more than 30 countries

Although the price in North America was raised a year ago,the price of Netflix in more than 30 countries is getting cheaper.Although this seems to be a contradiction at first glance,with the change of audience habits after locking,the company seems to be trying to strike a proper balance between global revenue and user growth.

The company cut prices by up to half in parts of the Middle East(Yemen,Jordan,Libya),sub-Saharan Africa(Kenya),Europe(Croatia,Slovenia and Bulgaria),Latin America(Nicaragua,Ecuador and Venezuela)and Asia(Malaysia,Indonesia,Thailand and the Philippines).Although regular price increases have become a regular phenomenon of Netflix,it also launched cheaper advertising support programs in 12 countries last October.

While the subscription price has been reduced,several other streaming media services(including Disney+,Hulu and Sling TV)have also recently increased their prices.”John Hodulik,media and entertainment analyst at UBS Group AG,told the Wall Street Journal:”This is absolutely against the recent trend,not only Netflix,but also the broader streaming media industry.”In percentage terms,some of the cuts are substantial,”he said.

At the January earnings conference call of Netflix,Co-CEO Greg Peters said that the company hopes to find areas where prices can be raised to help fund new content investment.”Peters said,”We consider ourselves an irreplaceable commodity.The regional price increase allows Netflix to increase users in the global market,and its share may be higher.The fact that competitors’services,including Disney+,HBO Max and Paramount+,are expanding globally may have an impact on this decision.

Netflix is still introducing new monthly fees for those who share their login credentials outside their home.After the pilot implementation of the plan in Latin America,the company has launched paid account sharing in Canada,New Zealand,Portugal and Spain.The new cost is 8 US dollars in Canada and New Zealand,4 euros in Portugal and 6 euros in Spain.It is expected to enter the US market soon.