by Netflix recently expanded its new policy aimed at preventing users from sharing their passwords with others in order to increase the company’s revenue. However, since the news has upset many users, the company is now lowering the prices of its subscriptions in several countries around the world.
Netflix is getting cheaper in some regions
As reported by The Wall Street Journal (above The edge), Netflix has announced plans to reduce subscription prices in more than 30 countries. These include Yemen, Jordan, Libya, Iran, Kenya, Croatia, Slovenia, Bulgaria, Nicaragua, Ecuador, Malaysia, Indonesia, Thailand and the Philippines.
Netflix subscriptions are now 50% cheaper in some countries. A company spokesman confirmed that Netflix is ”upgrading” the prices of its plans in some regions, but didn’t specify exactly where. However, prices remain the same in key Netflix markets like the US, UK, Canada, France, Spain, Germany, Mexico, and Brazil.
Netflix increased the prices of its plans worldwide in 2022. There have only been a handful of times when the company has announced that it will lower its prices. Though the reasons are unclear, the move comes as Netflix struggles to acquire new subscribers in the streaming war.
Netflix accused users who share their passwords with friends and family of losing more than 200,000 subscribers in the first quarter of 2022. According to the company, the platform has more than 100 million non-paying Netflix subscription users.
As a result, Netflix has now reviewed where users access their accounts to prevent people from sharing their password with others who don’t live in the same home. This system was first introduced in some Latin American countries and has recently been extended to Canada, New Zealand, Portugal and Spain.
The streaming war
A few years ago, Netflix pretty much dominated the streaming market on its own. However, the platform now has dozens if not hundreds of competitors around the world. Although Netflix is still the most popular streaming platform in most countries, it has lost subscribers from Amazon Prime Video, Disney+, HBO Max and Apple TV+.
But the problem is that Netflix is considerably more expensive than its competitors. Netflix’s premium plan offers 4K streaming for $19.99 per month. However, Apple TV+ only costs $6.99 per month, while Disney+ costs $7.99 per month.
In November 2022, Netflix introduced a new ad-based plan to attract more subscribers. Still, it has many limitations at the same price as other streaming platforms that allow you to share your account and watch videos in 4K resolution. It’s no surprise that Netflix is struggling to retain its current subscribers and attract new ones.
Now, Netflix finally seems ready to make its service more competitive in terms of pricing, at least in markets where the company seems to be struggling the most.
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