Netflix Slashes Subscription Prices Across the World: Report

Netflix is lowering the cost of its subscription service in more than thirty countries. The streaming giant aims to keep subscribers happy with the new price cuts amid stiff competition from companies such as HBO Max, Amazon Prime Video, and Disney+.

Netflix Slashing Subscription Prices in These Countries

According to a report by The Wall Street Journal, Netflix has slashed prices in various Middle Eastern countries such as Yemen, Iran, Jordan, and Libya. In Europe, countries such as Bulgaria, Croatia, and Slovenia are getting price cuts. Countries in Africa, such as Kenya, Morocco, and Sudan, will also see lower prices.

Additionally, Asian countries such as Malaysia, Thailand, Indonesia, and the Philippines will enjoy price cuts. Latin American nations including Venezuela, Nicaragua, and Ecuador will also see lower subscription prices.

Notably, India isn't on the list of countries getting the price cut. Here's the full list of territories where Netflix has lowered the subscription price, as shared by Ampere Analysis.

1. Afghanistan
2. Albania
3. Algeria
4. Angola
5. Bangladesh
6. Belize
7. Benin
8. Bhutan
9. Bolivia
10. Bosnia & Herzegovina
11. Botswana
12. British Indian Ocean Territory
13. Bulgaria
14. Burkina Faso
15. Burundi
16. Cambodia
17. Cameroon
18. Cape Verde
19. Central African Republic
20. Chad
21. Christmas Island
22. Comoros
23. Congo - Brazzaville
24. Congo - Kinshasa
25. Côte d'Ivoire
26. Croatia
27. Cuba
28. Djibouti
29. Dominica
30. Dominican Republic
31. Ecuador
32. Egypt
33. El Salvador
34. Equatorial Guinea
35. Eritrea
36. Ethiopia
37. Fiji
38. Gabon
39. Gambia
40. Ghana
41. Grenada
42. Guatemala
43. Guinea
44. Guinea-Bissau
45. Guyana
46. Haiti
47. Honduras
48. Indonesia
49. Iraq
50. Jamaica
51. Jordan
52. Kenya
53. Kiribati
54. Laos
55. Lebanon
56. Lesotho
57. Liberia
58. Libya
59. Macedonia
60. Madagascar
61. Malawi
62. Malaysia
63. Mali
64. Mauritania
65. Mauritius
66. Mongolia
67. Montenegro
68. Morocco
69. Mozambique
70. Myanmar (Burma)
71. Namibia
72. Nepal
73. Nicaragua
74. Niger
75. Palestinian Territories
76. Panama
77. Papua New Guinea
78. Paraguay
79. Philippines
80. Pitcairn Islands
81. Romania
82. Rwanda
83. Samoa
84. São Tomé & Príncipe
85. Senegal
86. Serbia
87. Seychelles
88. Sierra Leone
89. Slovenia
90. Solomon Islands
91. Somalia
92. South Sudan
93. Sri Lanka
94. St. Barthélemy
95. St. Helena
96. St. Lucia
97. St. Martin
98. St. Vincent and Grenadines
99. Sudan
100. Suriname
101. Swaziland
102. Tanzania
103. Thailand
104. Timor-Leste
105. Togo
106. Tonga
107. Tunisia
108. Tuvalu
109. Uganda
110. Vanuatu
111. Venezuela
112. Vietnam
113. Wallis and Futuna
114. Yemen
115. Zambia
116. Zimbabwe

Why is Netflix Reducing Subscription Prices?

Netflix spokesperson Kumiko Hidaka stated that the firm was updating subscription prices in certain countries. In January's earnings call, Netflix co-CEO Greg Peters alluded to the possibility of a price change.

"We seek to serve more members around the world in trying to deliver appropriate value at those different price points, and we're doing a good job expanding that range," Peters noted. "There's a bunch of people around the world in countries where we're not deeply penetrated, and we have more opportunities to go attract them," he added.

This explains the exclusion of countries, such as the US, Canada, Germany, France, and the UK, where Netflix is fairly popular. The video-streaming giant hopes to widen its net across the globe by offering reduced subscription prices in regions where it hasn't caught on yet.

Source: The Wall Street Journal