Good News For Netflix Subscribers

Good News For Netflix Subscribers: A lot has been changing in the video streaming space over the past few years and with the pandemic-fueled boom cooling and consumers turning more cautious about spending, competition in the streaming businesses has heightened, pushing the companies to rethink their strategies. Similarly, to keep relevant in the market amid the stiff competition from rivals, Netflix Inc has decided to reduce he prices of its subscription plans in some countries.

According to the Wall Street Journal, the price cuts span across some Middle Eastern countries, sub-Saharan African markets and parts of Latin America and Asia. The cuts apply to certain tiers of Netflix in those markets and in some cases halving the cost of a subscription, the Journal reported.

The streaming media company will be offering new pricing on its Basic, Standard, and Premium plans, with discounts ranging anywhere from 13 to 60 percent.

List of countries where Netflix has dropped its subscription plans

Netflix, which operates in over 190 countries, has been looking to grow share in newer international regions as the US and Canada markets saturate. Earlier this month, it laid out plans to crack down on password sharing for accounts on its streaming platform.

“We’re always exploring ways to improve our members’ experience. We can confirm that we are updating the pricing of our plans in certain countries,” a spokesperson for the company said.

The spokesperson did not give further details about the price cuts.