Netflix lowers its pricing in over 30 countries to boost subscription numbers

Netflix is lowering their prices to boost subscriber numbers in less developed nations

Netflix, the video streaming giant, has lowered the cost of its monthly subscriptions in order to grow their subscription numbers, and before you ask, no, the UK the US, and most wealthy nations will not see the cost of Netflix lower. 

Netflix’s slashed prices will mostly see the cost of the subscription lower in poorer, or less developed nations. In total, over 100 countries and territories are included in this cost-saving package, with price drops ranging from 20% to 60%. Countries that will see Netflix’s subscription pricing drop will include Algeria, Bulgaria, Croatia, Equador, Egypt, Haiti, Liberia, Panama, Tunisia, Vietnam, and many, many more countries.

Netflix is hoping to increase their subscription numbers with more attractive pricing and seeks to discourage subscription/password sharing in order to increase the size of their paying userbase. Last year, Netflix introduced a service which offered lower pricing and introduced ads to their platform, lowering the entry level pricing of their service. 

With recession fears and high inflation reducing consumer spending, a lot of people are seeking ways to save money. For many, Netflix is subscription that is on the chopping block, with many users unsubscribing from the service or lowering their subscription tier to make the service more affordable.

Following the reveal of their lowered subscription pricing, Netflix’ stock value fell by almost 5%, highlighting a lack of confidence in the company from investors and analysts. 

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