Netflix is expected to lose some subscribers due to crackdown on password sharing this year. Although it lost a few million subscribers in the first quarters of 2022, the streaming service gained nearly 8 million subscribers in Q4 2022, a number that exceeded its initial losses.
In an attempt to avoid potential losses in customer numbers, Netflix announced plans to reduce subscription costs in over 30 countries.
Unfortunately, Netflix didn’t provide the complete list of countries where subscription prices will be lowered, but we some of the locations where these changes will be introduced. For example, Middle East countries like Yemen, Jordan, Libya, and Iran will benefit from major discounts.
The same goes for at least three countries in Easter Europe, such as Bulgaria, Croatia, and Slovenia. As far as Latin America goes, we know of three countries where Netflix plans to cut subscription prices: Ecuador, Nicaragua, and Venezuela. Last but not least, customers in several countries from Africa and Asia will be getting cheaper Netflix subscriptions, including Kenya, Indonesia, Malaysia, the Philippines, and Thailand.
While Netflix confirmed that it’s updating the pricing of its plans in certain countries but didn’t offer specific details regarding prices. As mentioned earlier, price reductions will differ based on location, so you’ll probably have to check with your local Netflix branch for more details.
This is a major decision that somewhat contradicts Netflix’s most recent statements that announced plans to raise prices rather than lowering them. It’s important to mention though that these changes will only be introduced in some countries where prices were already too high.
As competition from other streaming services becomes fiercer, Netflix is taking steps to make sure customers remain loyal to its products no matter where they live.