USA: In an unexpected move, streaming juggernaut Netflix has slashed the subscription cost by up to 60% in over 30 countries including Malaysia, Thailand and the Philippines.
However, India is currently not included in the list. The company has been up against fierce competition, so the most recent decision to reduce prices may help in increasing the number of customers.
While other streaming services, such as Disney+ and Apple TV+, have decided to raise their subscription prices, Netflix has made the opposite choice.
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Users now have an increasing number of streaming options, so it seems that the business is focusing on expanding its user base. More than 230 million people worldwide are currently subscribers to Netflix.
In order to share their login information with users outside their homes, Netflix recently introduced "paid sharing" where subscribers will be charged a monthly fee.
Some users did not like it at all. The most recent price cut significantly reduces the cost of using Netflix and could attract new users. It will also help the streaming service fend off competition in several markets.
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According to a report by Ampere Analysis, the discounts on Netflix's subscription plans vary by country, but usually range between 20% to 60% for the basic tier.
According to estimates, more than 4% of Netflix's subscriber base will be affected by the price reduction. Both new customers as well as existing users are eligible for the discounted rates.
The price of Netflix subscription plans in India is yet to come down. There are four types of subscription plans that are currently offered in the nation: mobile, basic, standard, and premium.
For each segment, there are differences in video quality, supported devices, and resolution. Prices range from Rs. 149 (mobile) to Rs. 649. (Premium).