Netflix Cuts Subscription Prices in More Than 100 Countries in Attempt To Boost Subscribers

Netflix is reducing the cost of subscriptions in a number of countries as it tries to attract more subscribers to sign up and stay on the service.

Credit: Reuters

According to London-based market research group Ampere Analysis, the streaming giant is cutting prices in more than 100 countries across regions like Africa, Asia Pacific, Europe, Latin America and the Middle East. In Asia Pacific, among the countries included are Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Thailand and Vietnam. Singapore, however, isn't included in the list.

"We're always exploring ways to improve our members' experience," a Netflix spokesperson said. "We can confirm that we are updating the pricing of our plans in certain countries."

The discounts differ from country to country. Ampere Analysis research manager Toby Holleran said discounts for the Basic plan can range from 20% to nearly 60%, which are effective immediately for both new and existing subscribers. In the Philippines, for instance, the price dropped from P369 (S$9) to P249 monthly (S$6), while in Malaysia, it dropped from RM35 to RM28.

Some countries are also getting discounts for the Premium plan, while some aren't. For example, in the Philippines, Malaysia and Vietnam, the discounts are limited to the Basic plan.

Ampere Analysis said the latest price drops affect “more than 10 million" subscribers, which equates to about 4% of Netflix's total of more than 230 million as of the end of last year.

The price drops come amid stiffening competition in the streaming industry, with the likes of Disney+, Paramount+ and HBO Max, among others, all fighting over Netflix’s market share.

It also comes in the same month as Netflix rolling out measures to prevent subscribers from sharing their accounts with those who live in a different household. The company said over 100 million households are sharing accounts, which impacts its ability to produce more content.

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• Netflix is reducing the cost of subscriptions in a number of countries as it tries to attract more subscribers to sign up and stay on the service.

• The streaming giant is cutting prices in more than 100 countries across regions like Africa, Asia Pacific, Europe, Latin America and the Middle East.

• The discounts differ from country to country, ranging between 20% to nearly 60% for the Basic plan.

• The price drops come amid stiffening competition in the streaming industry, with the likes of Disney+, Paramount+ and HBO Max, among others, all fighting over Netflix’s market share.