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To increase subscriptions, Netflix lowers prices in some nations.

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Image Credit: HubPages Worldwide users rely on the well-known streaming service Netflix. The company offers several subscription plans with varying costs, benefits, and supported device counts. The massive streaming service recently lowered its subscription prices in a few Middle Eastern nations. According to the most recent report, Netflix may reduce the cost of its subscription services in several nations. These nations will not, however, include important markets like the US, Canada, and a sizable portion of Europe. The price cuts are likely to apply to Netflix tiers, the WSJ reported. The company will, in some cases, halve the subscription price in the interim. According to The Wall Street Journal, recent price reductions by the streaming juggernaut have affected markets in the Middle East (Yemen, Jordan, Libya, and Iran), sub-Saharan Africa (Kenya), and Europe (Croatia, Slovenia, and Bulgaria). "In Latin America, countries like Nicaragua, Ecuador, and Venezuela have seen reductions in subscription costs, as have regions of Asia like Malaysia, Indonesia, Thailand, and the Philippines," the report said. Only certain Netflix tiers in the impacted nations saw price reductions. John Hodulik, a media, and entertainment analyst at UBS Group AG was quoted as saying that it "definitely goes against the recent trends" for Netflix and the wider streaming industry. He added that some of these cuts were significant in terms of percentage. Greg Peters, a co-chief executive at Netflix, had also hinted during a January earnings call that the company is looking for markets where they might raise prices to support ongoing content expenses. We consider ourselves indispensable. In markets where it does not currently hold a dominant position, the streaming juggernaut, in his opinion, also has a chance to gain new customers. The company is committed to offering an experience that exceeds members' expectations because "we know members have never had more choices when it comes to entertainment," according to a Netflix spokeswoman. In January of last year, the company raised the fee for US and Canadian subscribers. It increased the cost of subscriptions for users in the UK and Ireland later, in March. A less expensive, ad-supported $6.99 plan was however added by the streaming juggernaut in November.

By Omal J

I worked for both print and electronic media as a feature journalist. Writing, traveling, and DIY sum up her life.


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