By: Taoheed Adegbite
Nigeria has been excluded as Netflix, a movie streaming giant, cut subscription prices in more than 30 countries.
The prices have been cut in attempts by the company to attract more subscribers in parts of Asia, Europe, Latin America, sub-Saharan Africa and the Middle East.
The decision was said to have been triggered as Netflix faces increased competition from rival services, and the rising cost of living which sees households tightening their belts.
“Members have never had more choices when it comes to entertainment,” a company spokesperson said.
According to a report by BBC, Netflix lowered its subscription charges in 30 countries, including; Malaysia, Indonesia, Thailand, the Philippines, Croatia, Venezuela, Kenya and Iran.
Meanwhile, in some certain price plans, subscription charges fell by half while the company did not name the UK or the US as countries where it had cut its prices.
“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 Netflix spokesperson said.
Netflix, which operates in more than 190 countries, owing to an increased competition from streaming rivals like Amazon, HOB and Disney, cut hundreds of jobs and launched a less expensive streaming option with adverts last year, as it fought to grow its share of the increasingly competitive streaming market.
Greg Peters, Netflix co-chief executive, in January, outlined how he planned to attract more subscribers.
He said, “We want to make that spectrum even wider as we seek to serve more members around the world and trying to deliver appropriate value at those different price points.”
Also, as one of its efforts in cracking down on people sharing their subscriptions, the company introduced limits on password sharing in more countries earlier this month.
These require customers to pay an extra fee if they want friends and family who don’t live with them to share their subscription.
Last summer, Netflix revealed that it had lost almost a million subscribers between April and the end of June as more people decided to quit the service.
However, in January the company said subscriber numbers had jumped at the end of 2022.
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