The Wall Street Journal reports that Netflix, the American streaming giant, has dropped its subscription costs in more than 30 countries over the past week.
In some instances, the cost of a Netflix subscription will be halved in these nations, where the price of certain Netflix tiers will be reduced.
Egypt, Yemen, Jordan, Libya, Iran, Kenya, Croatia, Slovenia, Bulgaria, Nicaragua, Ecuador, Venezuela, Malaysia, Indonesia, Kenya, Vietnam, Thailand, and the Philippines are among the countries that would gain from this gesture.
A Netflix spokeswoman told The Wall Street Journal, “We recognize that subscribers have never before had so many entertainment options, and the firm is committed to exceeding their expectations.”
The representative stated that the business was revising pricing for various countries’ programs.
According to The Wall Street Journal, the subscription cutbacks are both a strategy to increase the company’s competitiveness and a way to attract additional subscribers.
Netflix lost 200,000 subscribers in the first quarter of 2022 and 970,000 subscribers in the second quarter of the same year.
In conjunction with Microsoft – a worldwide technology company — the company also announced it will launch a lower subscription option financed by advertisements.
The objective was to increase subscriptions.
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